How Credit Suisse’s turnaround could work
Viewsroom
Reuters
4.4 • 58 Ratings
🗓️ 10 November 2022
⏱️ 21 minutes
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| 0:00.0 | Something unexpected has arrived in Happy Meal. |
| 0:03.2 | Teenage Mutant Ninja Turtles and Hello Kitty and friends are teaming up for the ultimate collab. |
| 0:08.3 | Joining your little ones on a fun-fueled adventure. |
| 0:11.0 | Some fun, some food, it's all inside this Happy Meal. |
| 0:16.3 | Until the 2nd of February from 11am includes one pre-selected book or toy whilst it's last. |
| 0:20.3 | The views expressed on this podcast are those of the participants, not of Roald's News. |
| 0:28.2 | I actually think Credit Suisse has a long history, 164 years and a very strong and good culture. |
| 0:37.3 | So I don't think we have a culture problem. |
| 0:39.0 | But there are a few things we've learned from this episode. |
| 0:42.0 | There were some mistakes done. |
| 0:44.2 | That was Credit Suisse former CEO Thomas Gotstein speaking in early 2020 |
| 0:49.3 | about a damning spying scandal that led to the departure of his predecessor, |
| 0:56.5 | Tijan Tiam. And his promise was to clean up the bank's culture. Two and a half years later, the bank has yet another CEO, |
| 1:02.4 | and he's taking an axe to the Zurich-based bank. Just how it will work is the focus of this |
| 1:08.8 | week's views room. |
| 1:17.2 | Welcome back to the views room, the podcast from Reuters' Breaking Views, where columnists from around the world talk about the big stories of the week. I'm your host, Amy Donnellin, |
| 1:21.6 | coming to you from London. Ulrich Kerner, the newish CEO of Credit Suisse, has a novel plan for the embattled lender, |
| 1:30.1 | which may take years to come to fruition. |
| 1:32.5 | It involves raising $4 billion from investors, scaling back the investment bank, |
| 1:37.4 | and spinning off the advisory and capital markets units. |
| 1:40.6 | They'll be known as Credit Suisse First Boston, and they'll be ran under Rainmaker Michael |
| 1:45.5 | Klein. But what do investors think about the plan? And what are the risks of it failing, |
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