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Tiia Monto
According to David Herro, chief investment officer at Harris Associates, if Credit Suisse can figure out a method to guarantee a consistent return on said unit, it would be the best option for shareholders. Herro made these comments in an interview on Friday, adding that options like a sale, spin-off, or merger should be taken into account if a solution can't be found in the next year or two.
Herro, whose company owns 10% of Credit Suisse, described the division as "a problem child." The only thing they have to do is prevent the bank from losing money, which may sound simple.
Since 2015, the Swiss bank has gone through four CEOs. It is currently working to recover from years of scandals and losses, many of which were connected to its securities and trading section. The bank announced strategic adjustments last month and hinted that a significant investment banking arm would be impacted by the reallocation of funds.
source: bloomberg.com
Herro, whose company owns 10% of Credit Suisse, described the division as "a problem child." The only thing they have to do is prevent the bank from losing money, which may sound simple.
Since 2015, the Swiss bank has gone through four CEOs. It is currently working to recover from years of scandals and losses, many of which were connected to its securities and trading section. The bank announced strategic adjustments last month and hinted that a significant investment banking arm would be impacted by the reallocation of funds.
source: bloomberg.com
