In order to inject new ideas into the uber-conservative Swiss banking, the country's largest bank handed it to Chief Executive Officer Tidjane Thiam, an athletic, talented Senegalese, who started a deep revamping of the organization. The stock is down by almost half since Thiam took over in mid-2015, after he tapped shareholders for fresh capital.
Worse, the bank's internal workings have been exposed as slightly un-Swiss, as its top wealth manager Iqbal Khan was spied on following an altercation between Thiam and Khan. Swiss bankers used to be dumb, boring and reliable. This is hardly good for business. In fact, a campaign for sacking Tiam is being fought, but that would look racist.
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