Skip to content
Subscriber Only

Credit Suisse Has Top Investor Betting Big on Thiam’s Turnaround

  • Harris Associates increased stake to more than 10%, Herro says
  • Swiss bank could trade at 1.5 times book value, Herro says

Credit Suisse Group AG Chief Executive Officer Tidjane Thiam has at least one investor that keeps betting bigger on his turnaround.

Harris Associates increased its stake in Switzerland’s second-largest bank to more than 10 percent, Chief Investment Officer David Herro said by e-mail on Monday. The Chicago-based company owned about 9 percent on June 14, he said at the time.