CEO says ambitious expansion drive was a mistake

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Regrets - I've a few.

Credit Suisse's outgoing CEO said an ambitious expansion drive following the global financial crisis ranked among his mistakes as CEO, as he addressed shareholders for the last time on Friday.

Reuters reports that Brady Dougan, born in the U.S. Midwest, initially won admiration for leading the bank through the crisis without requiring a government bailout - unlike cross-town rival UBS.

He has also faced criticism for his decision to retain a sizeable investment bank, regarded by many in Switzerland as too risky following the crisis.

During his final annual general meeting, speaking briefly in German and French and at times visibly moved, Dougan said he had made his share of mistakes.

To access the complete Reuters article hit the link below:

Credit Suisse CEO says post-crisis expansion was a mistake

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