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According to the publication, at least five senior and 20 junior employees have quit the Credit Suisse Middle East branch since the beginning of 2019. As a result, Daher, known for his expressive and often unethical manner towards his interlocutors, was forced to apologise for his words for the first time in a long time.
The reason for this was his comment that some employees should have had a gun to their heads if they had not corrected their work performance. At a nearby meeting, Daher apologised for the poor choice of words and explained that he often likes to use metaphors.
Market participants say that Daher's communication style was instrumental in building a successful business with annual revenues of 75 billion Swiss francs ($82 billion) and also in creating a team of reliable and skilled like-minded professionals, many of whom had followed Daher from his previous job at US investment bank Merrill Lynch.
But dissatisfaction amongst individual staff members, coupled with the bank's strategic failings - one of them being the Archegos Capital scandal - has led the senior management to consider replacing Daher. So far, no personnel decisions have been taken.
source: bloomberg.com
The reason for this was his comment that some employees should have had a gun to their heads if they had not corrected their work performance. At a nearby meeting, Daher apologised for the poor choice of words and explained that he often likes to use metaphors.
Market participants say that Daher's communication style was instrumental in building a successful business with annual revenues of 75 billion Swiss francs ($82 billion) and also in creating a team of reliable and skilled like-minded professionals, many of whom had followed Daher from his previous job at US investment bank Merrill Lynch.
But dissatisfaction amongst individual staff members, coupled with the bank's strategic failings - one of them being the Archegos Capital scandal - has led the senior management to consider replacing Daher. So far, no personnel decisions have been taken.
source: bloomberg.com
