It has been a turbulent few years for Credit Suisse, given that the bank has “been in the headlines more than we would have wanted”, reflects James Spencer, head of the financial institutions group (FIG) for the Americas. “The focus now is about building on, and investing in, our franchise,” he adds.
Following a period during which a spotlight was shone on risk management practices after the collapse of large family office Archegos and supply chain financer Greensill, both significant Credit Suisse clients, there have been a number of staff departures across the bank, including at CEO and chairman level, and reputational challenges have been weighing on morale.
