When financier Huw van Steenis asked Credit Suisse boss Tidjane Thiam who would be held accountable for nearly $1bn in write-downs in 2016, Thiam said the number had been a “surprise” to him.
“I was not aware of the existence of those positions and that scale,” he told Van Steenis when asked for a second time who is behind the losses. “I’ve said that there has been consequences. I don’t want to name names, but there has been changes in fixed income.”
Fast-forward three-years and Thiam has been caught by surprise again, this time by a spying scandal that has rocked the bank and led to the resignation of two top executives, including Thiam’s right-hand man Pierre-Olivier Bouee.
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Post time: Oct-03-2019