'The trust in senior management has been suffering for a long time'.
Credit Suisse took steps Monday to try to defuse investor concerns that parts of the division’s fixed income business have been rendered uneconomic by tougher regulation and subdued markets, saying that it would jettison its unprofitable commodities trading arm, as well as making further cuts to its underperforming rates and foreign exchange operations.
Analysts and investors, however, have yet to be convinced. James Chappell, analyst at Berenberg, said: 'They are not addressing the structural and cyclical challenges the sector is facing. It is a stock where investors want to see more significant change'.
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