The Credit Suisse demise - expert opinion by Harald Hau
A new expert opinion by Professors Harald Hau and Jean-Charles Rochet for the Swiss Parliamentary Investigation Committee (CEP), analyzes the financial developments of Credit Suisse in the years before the emergency merger.
It finds that in the period from 2011 to 2022, the bank massively and continuously destroyed shareholder value totaling CHF 34 billion and at the same time rewarded bank managers with cumulative performance bonuses of CHF 40 billion.
Such a large-scale redistribution of shareholder assets to bank managers indicates a failure of the Board of Directors, which did not pay sufficient attention to shareholder interests. A long-term failure of Credit Suisse on the capital market was likely under these conditions.
The full report (in German) is available here >
Jan 12, 2025