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Bloomberg Surveillance

Surveillance: Credit Suisse Chairman Should Resign, Herro Says

Bloomberg Surveillance

Bloomberg

Business News, News, Investing, Business

3.81.2K Ratings

🗓️ 7 February 2020

⏱️ 36 minutes

🧾️ Download transcript

Summary

David Herro, Harris Associates Chief Investment Officer, calls for Credit Suisse chairman Urs Rohner to resign. Ellen Zentner, Morgan Stanley Chief U.S. Economist, talks about jobs and salaries, and the recent income trend for people moving into prime of life. Elisa Martinuzzi, Bloomberg Opinion Columnist, says Credit Suisse's strategy will not take a turn under the new leadership of incoming CEO Thomas Gottstein. Lawrence Kudlow, National Economic Council Director, says the U.S. is engaged with China over export purchases.

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Transcript

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0:00.0

When you get your news from Bloomberg, you don't just get the story. You get the story behind the story.

0:07.0

How your Evie's battery may not be as green as it seems.

0:11.0

Why a decrease in global birth rates could send countries scrambling to increase immigration.

0:16.2

You get context.

0:17.6

And context changes how you see things, how you change things, because context changes everything. Go to Bloomberg

0:24.6

dot com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene.

0:43.3

Daily, we bring you insight from the best in economics, finance,

0:47.1

investment, and international relations.

0:49.7

Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course,

0:56.2

on the Bloomberg.

0:57.2

Our top story today, Shake Up at Credice Weiss, Tijente, I'm being ousted at Chief

1:01.5

Executive. Now joining us now is Credit Suisse as top shareholder,

1:04.7

he is David Harrell of Harris Associates.

1:07.0

David, we spoke on Monday,

1:09.7

and your position was very clear in regards

1:11.6

to the chief executive and his battle with the

1:13.7

chairman. The CEO now resigned after being ousted. Are you still committed to

1:19.5

Cretis-Wise? Well we are committed to credits,

1:23.3

because we think that the organization and the strengths of the

1:26.8

business go far beyond the week chairman and the

1:31.8

poor decision-making by the Board of Directors.

1:35.0

You know, what's beneath the corporate board, the Board of Directors is a very solid and vastly improved company companies largely because of the efforts of Mr. Tiam and so this is why we wanted him to stay.

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