Top firm CEO's four letter word will scare bankers

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'The only answer is to cut costs'.

Credit Suisse CEO Tidjane Thiam has a fondness for management-speak that veers between bland and bizarre.

Bloomberg News reports that in a 5,000-word Q&A in Bloomberg Markets, he gave us gems such as: "It's a people business" and "one hundred percent of my energy is focused on driving the company" as well as "having gone through a fire together generates trust." (Pity those employees left with the burns.)

There was even the video welcome he received from tennis ace Roger Federer that sounds somewhere between greeting and threat: "Welcome to Switzerland. We hope you have a good time here."

While it's easy to take pot shots, Thiam used one word seven times that neatly sums up the only remit Europe's bank CEOs really have these days: cost.

It's this, rather than anodyne talk of the importance of teamwork and clients that decides the fate of management.

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

Credit Suisse and a Four-Letter Word

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