Credit Suisse Is at ‘Critical Moment’ as Bank Prepares for Latest Overhaul, CEO Says
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Credit Suisse Group AG’s Chief Executive Officer Ulrich Koerner said the bank is at a “critical moment” as it prepares for its latest overhaul, while stressing the bank’s strength.
In the second carefully-worded memo sent to reassure staff in as many weeks, Koerner told employees not to confuse the “day-to-day” stock price performance with the Swiss firm’s “strong capital base and liquidity position.” The shares are hovering near a record low.