Credit Suisse Group AG

Credit Suisse Group – Lehmann Moment

Equity Bottom-Up
161 Views, 19 Jan 2022 04:43
EXECUTIVE SUMMARY
  • Horta-Osorio Is Out:Credit Suisse Group (CSGN.VX) (“Credit Suisse”) Chairman Antonio Horta-Osório abruptly resigned on January 16, 2022, following breaches of quarantine rules in both Switzerland and the United Kingdom;
  • Lehmann Not Lehman:With CEO Gottstein’s alleged resistance to strategic change, we remain cautious that the current strategic direction of Credit Suisse will not be maintained;  and   
  • Blunders Could Force Sale:There have been numerous costly high profile blunders at Credit Suisse in 2021. A reversion to the “Bad Old Days” could force a sale.   
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Thomas J. Monaco
Silver Point
FinancialsEquity Bottom-UpThematic (Sector/Industry)
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