Credit Suisse to Announce Departure of CEO Thomas Gottstein – WSJ
2022.07.26 22:54
Credit Suisse (CS) to Announce Departure of CEO Thomas Gottstein – WSJ
By Michael Elkins
The Wall Street Journal is reporting Tuesday that global investment bank and leading financial services company, Credit Suisse Group (NYSE:CS) is set to announce the departure of CEO Thomas Gottstein, citing people familiar with the situation. The move is, in part, an effort to turn around the company’s struggling fortunes.
Mr. Gottstein has headed the bank since the start of the pandemic and presided over a series of costly mishaps, including the implosions of clients Greensill Capital and Archegos Capital Management in early 2021.
The official announcement on Gottstein’s departure could come as soon as Wednesday, when the company is set to release quarterly results, where the company hinted in June that it would report its third quarterly loss in a row.
