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17

Time for Credit Suisse to Rethink Its Strategy

By Tony Seruga

It has been five months since Tidjane Thiam set out his strategy for Credit Suisse in a 69-page presentation. Since then, shareholders have seen a negative 42 percent return – worse than the returns at all of the bank’s European rivals, and twice as bad as those at its Swiss peer UBS.

Mr. Thiam’s grand plan was to double pretax profit in Asia from 2014 levels and in some areas of wealth management. Events have overtaken him. It is time for what in bankspeak is known as a strategic acceleration…

Time for Credit Suisse to Rethink Its Strategy

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