C Suisse and Deutsche bosses say they still have investor support

Deutsche Bank - Foyer Bridge

Deutsche Bank Supervisory Board Chairman Paul Achleitner and Urs Rohner, chairman of the board at Credit Suisse, used interviews with German and Swiss media to reject speculation that they have come under fire as the banks’ stocks trade near two-and-a-half decade lows.

Achleitner told German news magazine Wirtschaftswoche that his bank has an “intense dialogue” with investors, and that none have asked him not to run again in 2017. Rohner was cited in Bilanz as saying that he has spoken with most of Credit Suisse’s large shareholders and that they support its management and their strategy.

Bloomberg News reports that the men swapped out the top executives of Europe’s two biggest securities firms last year to spearhead plans to cut costs and reduce their focus on capital-intensive debt-trading businesses.

Subsequent market turmoil has since made those overhauls more difficult and helped send Deutsche Bank and Credit Suisse shares more than other global investment banks this year.

Hit the link below to access the complete Bloomberg News article:

Deutsche Bank, Credit Suisse Chairmen Reject Criticism in Slump

Credit Suisse Sends Memo to Staff on Brexit-Related Restrictions

 

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