Page 23 - Urs Rohner News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Credit Suisse board member quits as new chairman vows to tackle risks

(Bloomberg) -- Credit Suisse Group AG Chairman Antonio Horta-Osorio said he plans a thorough assessment of the bank’s “strategic options” after the twin hits from the collapse of Archegos Capital Management and Greensill Capital eroded confidence. While he backed Chief Executive Officer Thomas Gottstein at the bank’s annual general meeting, the new chairman left little doubt about his appetite for change. The recent missteps at the Swiss lender, he said, went beyond any crises he had lived through over three-and-a-half decades working at banks. “We will take the time required for an ...

By Luigi Serenelli2021-04-30T14:44:00+01:00 Institutional investors with assets worth $2.47trn (€2trn) are pushing Credit Suisse to step up efforts to cut financing coal while the lender is under pressure for its role in the Greensill and Archegos crises. In a statement ahead of the bank’s annual general meeting, held today, ShareAction and seven institutional investors demanded Credit Suisse to set a firm date to phase out from coal, citing the Intergovernmental Panel on Climate Change (IPCC), which recommends 2030 for the OECD and 2040 at the latest for the rest of the world. The grou...

Credit Suisse's departing chairman issued a rare apology as he signed off at the scandal-stricken bank.  Urs Rohner, who has overseen a string of disasters at the Swiss lender in recent months, handed over to former Lloyds Bank boss Antonio Horta-Osorio yesterday.  Speaking at the annual general meeting, Rohner offered a mea culpa for presiding over the Archegos Capital implosion and the Greensill Capital disaster – which have both blown a hole in Credit Suisse's finances.  Apology: Urs Rohner (pictured) handed over to former Lloyds Bank boss Antonio Horta-Osorio He said: 'The inexcusab...

Credit Suisse Group AG risk committee head Andreas Gottschling is stepping down from his role after prominent investors indicated they’ll vote to oust him following the $5.5 billion hit from the meltdown of Archegos Capital Management. Gottschling is standing down ahead of the bank’s annual general meeting on Friday, according to a statement from the company. Shareholder advisory firms including Glass Lewis had urged the bank’s investors to vote against re-electing him for another yearly term. Credit Suisse emerged as the big loser in global investment banks’ race to exit trading pos...