Spying scandals, huge loses, bad investments and top-tier resignations mark a bizarre year for the investment bank
Spying scandals, huge loses, bad investments and top-tier resignations mark a bizarre year for the investment bank
Credit Suisse’s strange year began a little bit later than everyone else’s. It started in February when its then chief executive officer, Tidjane Thiam was ousted in the wake of a spying scandal. After his appointment in 2015, the company’s stock increased by 7.5% and, by 2019, Thiam had increased pre-tax profit from €2.5 billion in 2015 to €4.4 billion in 2019. But, winning streaks don’t last forever, and Thiam resigned on 7 February after Iqbal Khan, Credit Suisse’s former head of wealth management, accused Thiam of ordering surveillance on him.
Credit Suisse’s strange year began a little bit later than everyone else’s. It started in February when its then chief executive officer, Tidjane Thiam was ousted in the wake of a spying scandal. After his appointment in 2015, the company’s stock increased by 7.5% and, by 2019, Thiam had increased pre-tax profit from €2.5 billion in 2015 to €4.4 billion in 2019. But, winning streaks don’t last forever, and Thiam resigned on 7 February after Iqbal Khan, Credit Suisse’s former head of wealth management, accused Thiam of ordering surveillance on him.
Discover the perks of being a member
| Clubhouse Membership | |
|---|---|
| Two Magazines per yearDelivered to your door | |
| Full Access to Paywall contentAccess to all member-only online features | |
| Membership Cardto redeem all the perks. | |
| Members Invites to Exclusive Eventsto private Clubhouse events | |
| Weekly newsletter Straight to your inbox | |
1 year £39.99 Equivalent to £3.33/month |
Discover the perks of being a member
| Clubhouse Membership | |
|---|---|
| Two Magazines per yearDelivered to your door | |
| Full Access to Paywall contentAccess to all member-only online features | |
| Membership Cardto redeem all the perks. | |
| Members Invites to Exclusive Eventsto private Clubhouse events | |
| Weekly newsletter Straight to your inbox | |
1 year £39.99 Equivalent to £3.33/month |