Credit Suisse faced a staggering loss of nearly $1 billion due to poor trades made in 2012, leading to a tumultuous restructuring under CEO Tidjane Thiam. Despite initial hopes for recovery, the bank reported a $3 billion loss in 2015, marking its first annual deficit since the financial crisis, and continued to struggle with legal issues and regulatory scrutiny. Thiam"s efforts to implement a new strategy were met with skepticism, as he grappled with a complex internal environment and external pressures, ultimately questioning the bank"s viability.
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