Credit Suisse forced onto the defensive

Credit Suisse forced onto the defensive
Matthew Allen
Jul 5, 2016 - 15:24

When he took over at the helm of Credit Suisse last July, Tidjane Thiam could hardly have expected - just one year on - to be denying reports of the company being broken up and sold off. It has been one of those years for the bank whose share price threatened to drop below CHF10 a week ago.

Much of the Swiss media hailed Thiam as a likely saviour of the struggling bank last summer. Most of these headlines have turned sour in a remarkably short time span. “The group will stay intact,” Thiam was forced to tell the SonntagsBlick newspaper on Sunday. “A takeover is not a subject.”

While...