Stock Market News
Credit Suisse names Koerner as CEO, sets strategic review
2022.07.27 08:33
FILE PHOTO: Logo of Swiss bank Credit Suisse is seen at a branch office in Bern, Switzerland May 2, 2022. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) – Credit Suisse named asset management expert Ulrich Koerner as its new chief executive on Wednesday, the latest sign of churn at the Swiss bank that announced a strategic review as it struggles to recover from a series of scandals.
Pressure had been mounting on current chief executive Thomas Gottstein for months over the scandals and losses racked up during his two-year tenure that have hammered shares and angered investors.
In recent months some investors had called for Gottstein to be replaced, but the bank had resisted.
