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Credit Suisse Tries a New CEO After $1.7 Billion Loss

“Since Mr Gottstein was appointed CEO in Feb 2020, Credit Suisse shares have declined by over 60%, materially underperforming peers.,” Citigroup analysts wrote in a note to investors. “While Mr Gottstein inherited a number of problems, the way in which the firm reacted to these and the subsequent strategy adopted has left the bank in a weaker position with significant franchise erosion across all divisions, and most notably the investment bank.”

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