Credit Suisse board backs CEO? The Strategic Realignment

Credit Suisse board backs CEO

Sunday, Sept. 26, 20211(Reuters) - Credit Suisse's (CSGN.S) Board of administrators is satisfied Chief Executive Thomas Gottstein is the proper man or woman to strategically realign the financial institution with the aid of using curtailing danger urge for food, the Swiss financial institution's chairman stated in a newspaper interview posted on Sunday.

Asked whether or not he turned into making plans to update Gottstein as CEO or take over the operational lead of the financial institution himself, Antonio Horta-Osorio turned into quoted as replying "no" withinside the interview with Swiss Sunday newspaper SonntagsBlick.

"I can only say with certainty that Thomas Gottstein has the full confidence of the board of directors," he said.

"In the difficult phase the bank went through recently, he impressively demonstrated his leadership skills. He is the right man for the strategic realignment of the bank."

Horta-Osorio, who took over as chairman in April, stated the financial institution needed to minimize danger urge for food and set the proper incentives, at the same time as additionally hiring and assisting body of workers sharing its values.

"(The strategy discussion) is not finished so we cannot talk about it publicly yet," he said.

Also, the gift in the interview, Gottstein stated it turned into extraordinarily critical for the chairman and CEO to paintings collectively intently and harmoniously withinside the modern-day important phase.

Credit Suisse is making an attempt to rebuild its recognition after struggling with massive losses this 12 months with delivering chain finance finances related to Greensill and the crumble of funding fund Archegos.

Gottstein stated the financial institution had very well analyzed its stability sheet. "We did not find any cases comparable to Greensill or Archegos."

Reporting by Silke Koltrowitz; Editing by Kirsten Donovan

Our Standards: The Thomson Reuters Trust Principles.

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