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Swiss Minister Calls Credit Suisse Managers ‘Arsonists’

  • Karin Keller-Sutter says bank executives are responsible
  • Comments were published in Swiss newspapers on Friday
Karin Keller-Sutter

Karin Keller-Sutter

Photographer: Pascal Mora/Bloomberg
Updated on

Switzerland’s Finance Minister Karin Keller-Sutter denied government responsibility for the near-collapse of Credit Suisse Group AG in March, and instead called the bank’s management “arsonists.” 

Asked if her predecessor Ueli Maurer had done his job well, Keller-Sutter, who took over the post at the beginning of the year, told Tages-Anzeiger, “you have to be careful not to confuse firefighters and arsonists. The board of directors and executive board are responsible for Credit Suisse – and not the government.”