Credit Suisse CEO Blindsided as Bank Added to Risky PositionsBy and
Thiam said trading actions were `completely unacceptable'
Firm has taken more than $250 million of writedowns this year
Credit Suisse Group AG Chief Executive Officer Tidjane Thiam said the firm’s traders had ramped up holdings of distressed debt and other illiquid positions without many senior leaders’ knowledge, helping lead to a first-quarter loss in the markets business.
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