Credit Suisse CEO Tidjane Thiam said he’s “painfully aware” that shareholders have gone through tough times and that all options are on the table to return cash to investors as profitability improves.
“The shareholders have been through a lot. I’m painfully aware that I had to dilute my shareholders very significantly,” Thiam said Tuesday in an interview on Bloomberg TV. “As we generate more profit and the bank does better,” he said, “the goal of all this is to return capital to shareholders.”
Credit Suisse is entering its final year of an overhaul aimed at reducing the bank’s reliance on volatile trading in favor of wealth management and emerging markets. Thiam, who is scheduled to update investors Thursday on his strategy, has cut thousands of jobs, sold off risky legacy assets, and raised more than 10 billion francs ($10.2 billion) from shareholders in the past two years.
Hit the link below to access the complete Bloomberg News article: