Bloomberg News reports that a rise in the value of the Swiss franc following the central bank’s decision to let the currency trade freely, coupled with investor concern that the bank’s balance sheet isn’t strong enough and doubts about the CEO’s plan for the securities unit, pushed shares down 22 percent in January, the biggest monthly drop in Dougan’s tenure. Credit Suisse is the worst-performing European bank this year outside of Greece.
Dougan, 55, is running out of options. He could follow competitors including UBS Group AG in making additional cuts to the investment bank as debt trading lags, shareholders say. To accelerate the buildup of capital, some are even willing to forfeit a dividend.
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