C Suisse chief says bank won't be sold or dismantled

Tidjane Thiam

Credit Suisse’s CEO Tidjane Thiam said the bank he’s been leading for a year will neither be dismantled nor sold.

“The Group will stay intact,” Thiam told Swiss newspaper SonntagsBlick. “A takeover is not a subject.”

Bloomberg News reports that investors in the bank are doubting his ability to turn around its struggling investment bank as share prices hover close to record lows. The CEO announced an overhaul in October that shifts Credit Suisse away from investment banking, to focus more on managing money for rich people.

The slumping share price and losses in the first two quarters after the strategy announcement caused some employees and investors to criticize the bank’s leadership. Chairman Urs Rohner, who hired Thiam, turned to another Swiss newspaper last month and said he was convinced Thiam is the “right man” for the job.

To access the complete Bloomberg News article hit the link below:

Thiam Says Credit Suisse Won’t Be Dismantled or Sold

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