Credit Suisse to realign strategy this year, says chairman

ZURICH: Credit Suisse expects to decide on a new strategy by the end of the year, chairman Antonio Horta-Osorio said in his first interview since assuming the role at the troubled lender.

Credit Suisse’s top management are under pressure to come up with an overhaul plan after losing more than US$5bil (RM20.8bil) in the rush to unwind trades by family office Archegos, on the heels of the collapse of US$10bil (RM41.6bil) in funds backed by insolvent supply chain finance firm Greensill Capital.