Credit Suisse Chairman Apologizes to Shareholders for Mistakes in Management
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Today, Alex Lehman, Chairman of the Board of Directors of the Swiss bank Credit Suisse, brought to shareholders apologies for the situation that has developed around this financial company, as a result of which it was on the verge of bankruptcy.
“This is a sad day for all of us. I can understand all the bitterness, dissatisfaction and shock of all of you – disappointed, stunned and affected by these events, – Mr. Leman said at the annual meeting of shareholders. – I apologize for the fact that we were unable to stop the loss of trust that we accumulated over the years, and thus disappointed you.”
Recall, on March 19, the National Bank of Switzerland announced about the emergency merger of the two largest banks in the country – UBS and Credit Suisse. The reason was long-term corporate scandals and financial problems of Credit Suisse, which ended 2022 with a loss of $ 7.9 billion – this is the bank’s worst result since 2008.
March 24 by an urgent merger of two banks got interested audit committee of the swiss parliament. And on April 2, the Swiss prosecutor’s office opened investigation into the deal to buy Credit Suisse. According to the FT, prosecutors are investigating possible wrongdoing by Credit Suisse and UBS, officials and regulators in the bank merger “to avoid potential financial catastrophe.”
Read more about the collapse of Credit Suisse – in the material “Kommersant” “The whole of Switzerland is in terrible turmoil”.
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