Credit Suisse’s New Chairman to Decide If a Deal Is the Answer
- Bank faces strategy reboot after stunning Archegos Losses
- Fate of asset-management unit could be first big decision
Antonio Horta-Osorio
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The damage control work at Credit Suisse Group AG from a pair of disasters that stunned the banking world will soon give way to the question of how the 165-year-old institution will rehabilitate its business and reputation.
A new chairman, Lloyds Banking Group Plc chief Antonio Horta-Osorio, arrives in three weeks, to begin the search for answers after the fiascoes involving Archegos Capital Management, a New York-based family office, and supply-chain lender Greensill Capital, which have already wiped out more than a year of profits.