- June 25, 2021
- Posted by: Stratford Team
- Category: Business
- Credit Suisse rocked by Archegos, Greensill scandals
- Leadership eyes overhaul, may shrink investment bank – sources
- Shake-up could lead to UBS merger – sources
ZURICH, June 25 (Reuters) – Credit Suisse’s top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS (UBSG.S), three people familiar with its thinking told Reuters.
The bank’s executives fear the flagship Swiss lender, left vulnerable by scandals, could be challenged by investors demanding its break-up, or that its shrinking stock-market value makes it a target for a foreign hostile takeover, those people said.
New chairman, Antonio Horta-Osorio, announced a strategic review in late April, telling investors he would take time in reaching hard decisions that lay ahead.
The bank’s…