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Credit Suisse Faces Angry Investors With Gap to Rivals Widening

  • Shareholder discontent is set to be theme at AGM on Friday
  • Bank reported bigger-than-expected loss, warns of legal costs
Bloomberg business news
Credit Suisse CEO on Legal Costs, Management Changes

Credit Suisse Group AG executives are set to face off with miffed shareholders for the second year in a row after a losing streak of profit warnings, scandals and management tumult sent the stock into a tailspin.

Powerful voices are again lining up to question the bank and its approach at the annual general meeting on Friday. Norway’s sovereign wealth fund, one of the bank’s largest shareholders, is backing a call for a special audit into the collapse of funds the bank ran with former partner Greensill Capital. Advisors are urging investors not to absolve leadership of liability for mistakes made in the run-up to the Archegos Capital Management debacle.