Credit Suisse's Largest Investor Increased Its Stake, Herro Says
- Swiss bank headed in right direction with overhaul, Herro says
- Harris Associates was bank's biggest shareholder at end 2015
David Herro.
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Credit Suisse Group AG investor Harris Associates LP has taken advantage of a plunge in the Swiss bank’s shares to increase its stake, Chief Investment Officer David Herro said.
“We have used price weakness -- we usually do -- to increase our holdings,” Herro said in an interview with Francine Lacqua and Michael McKee on Bloomberg Radio on Monday. “There has been some friction but they’re headed in the right direction.”