Credit Suisse CEO Gottstein Vows to Restore Calm After Archegos
- CEO says the hedge fund scandal has ‘left its mark’ on him
- Bank has seen departures of several executives after Archegos
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Credit Suisse Group AG Chief Executive Officer Thomas Gottstein pledged to restore calm at the Swiss bank after the Archegos Capital Management scandal caused a $5.5 billion hit and further damaged its reputation.
Speaking at the virtual annual general meeting on Friday, Gottstein said that the recent developments had “left their mark” on him, and that with the new chairman and board, he would seek “to steer Credit Suisse back into calmer waters.”