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credit suisse faces 22 billion loss amid widespread compliance failures

Credit Suisse faced over 22 billion francs in losses due to inadequate internal controls and compliance failures, leading to high-profile scandals involving money laundering and dubious partnerships. Despite numerous warnings and investigations, the bank's leadership failed to implement necessary reforms, resulting in severe reputational damage and regulatory scrutiny from FINMA. The culture of negligence persisted, with key executives, including Lara Warner, held accountable for their roles in these failures.
Tages-Anzeiger
Swiss Franc United States Dollar Credit Suisse Group Ltd. CHE Romeo Cerutti Tobias Guldimann Urs Rohner Tidjane Thiam Lara Warner Show more
Regulatory & Legal, News Article
06:59 23.03.2025

the tumultuous tenure of tidjane thiam at credit suisse

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.
Tages-Anzeiger
United States Dollar Credit Suisse GBR CHE Pierre-Olivier Bouée Tim O'Hara Loretta Lynch Bill Baer. Brian Chin Iqbal Khan Tidjane Thiam Romeo Cerutti Thomas Gottstein Jim Amine Lara Warner Show more
TradFi, News Article
00:00 17.11.2024
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