New Credit Suisse CEO Just Wants To Remind Everyone He's No Miracle Worker

Would be nice if he was, but no.

Credit Suisse could use one right about now, but let's just all slow our roll. Dial those expectations back down to like a 2-3.

Credit Suisse Group AG’s new chief executive, who took over this week, is already playing down optimism he can quickly lift the Swiss bank out of its recent malaise. “Expectations have kind of run away,” said Tidjane Thiam in a recent interview in Zurich...“Everyone kind of assumes he’ll appear like Harry Potter, and wave a wand and magically turn Credit Suisse into UBS,” Helvea analyst Tim Dawson said.

New Credit Suisse CEO Tidjane Thiam Reins in Hopes for a Quick Fix [WSJ]