Credit Suisse CEO resigns as bank posts 2Q loss

Published July 27, 2022 1:09 AM

GENEVA (AP) — Credit Suisse says CEO Thomas Gottstein is resigning after 2-1/2 years in the job. It came as he announced “disappointing” results, plunging revenues and a net loss in the second quarter. Those are the latest signs that the top-drawer Swiss bank is not yet finished with a string of troubles in recent years. The Zurich-based bank said Ulrich Koerner will take the helm starting on Monday. Gottstein had brought Koerner onto its board from rival UBS last year. Credit Suisse reported a net loss of 1.6 billion Swiss francs (about $1.7 billion) in the second quarter, from a profit of 253 million francs in the quarter a year earlier.

Article Topic Follows: AP National Business

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