Skip to main content

New Credit Suisse CEO Preemptively Tells Investors Not To Spam His F*ckin Inbox With Their Tips On Running A Bank

Let's not do this dance.
  • Author:
  • Updated:

Look, he's got to act like he cares about each and every one of your special snowflake ideas, and maybe even respond to the most 'important' among you but real talk? He could turn this bank around a lot quicker if he didn't have to pretend like he's actively taking into consideration your tips on how to do his job, 99.9% of which a 5 year-old could have come up with.

Investors and analysts have been expecting Mr Thiam to slash the capital-intensive investment bank and invest in wealth management — particularly in Asia, where he achieved strong growth as chief executive of insurer Prudential. Credit Suisse’s rival UBS has won praise, and a higher share price, for cutting its investment bank and refocusing on private banking after its strategy review in 2012. However, Mr Thiam, who officially took over as chief executive on Wednesday, said that while it was “very important” for him to understand investors’ perspectives, he would not necessarily take the decisions they expect. “If it’s the right economic decision then it’s the job of management to explain to investors why it is the right economic decision,” he said. “We have to be held to account by investors and we have to be able to convince them.”

Thiam prepares to apply ‘ruthless’ streak to Credit Suisse [FT]


Layoffs Watch '15: Credit Suisse Wants You! (To Help It Cut Costs By 3.5 Billion Francs)

This is not so much a request as a requirement you're unlikely to get around, unless anyone is considering chaining themselves to their desks.

Layoffs Watch '15: Credit Suisse

Analysts think the appointment of Tidjane Thiam is probably a sign big cuts are coming to IBD.

Bonus Watch '16: Credit Suisse CEOs

Like many a Credit Suisse employee, Thiam will see his bonus chopped (though in his case the slashing is voluntary).