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Credit Suisse CEO Says Risk `Well Managed' After $1 Billion Loss

  • Thiam says firm needs to `re-adjust our risk appetite'
  • CEO says he's been `very transparent' in description of losses
Tidjane Thiam.

Tidjane Thiam.

Photographer: Simon Dawson/Bloomberg

Credit Suisse Group AG, which lost almost $1 billion since October on soured credit positions that took some top managers by surprise, is in control of the risks that it takes, according to Chief Executive Officer Tidjane Thiam.

“Our operational risk is very well-managed,” Thiam, 53, said Tuesday in a Bloomberg Television interview with Rishaad Salamat in Hong Kong. “We’ve very tight procedures around that, and we operate under satisfaction of regulators.”