I started to dislike Swiss banks since the dormant Jewish account scandal, when it was accidentally discovered that those honest Swiss banks did not recognize nor return the monies deposited by Jews before the Holocaust and worse, they were destroying all paper evidence. Much of those secret deposits were from German and Hungarian Jews, like my wealthy grandparents. I am still angry.
When they appointed Tidiane Thiam, an athletic Senegalese, I predicted that Swiss gnomes had lost their minds and were on the way to their doom. In 2020 they sacked the (well-hung) African giant on account of the disorder and losses he caused, and appointed Thomas Gottstein in his stead. Gottstein looked like a typical anti-Semite, solid Swiss banker, best known for his excellency in golf. He had finished 6th at the 1991 Amateur Championship. He will be remembered as the grave digger of Credit Suisse.
The pic shows Hamad bin Jassim Al Thani from Qatar, the largest stockholder of Credit Suisse. He doesn't look happy.
P.S.: With a 4.4 billion franc ($4.7 billion) writedown tied to its losses from Archegos, the fallout from the collapse of Greensill Capital, and a dividend cut and suspension in share buybacks, frustrations among stakeholders are boiling over. Speculation is rife over the future of the investment bank, the asset-management unit, and the fate of top executives. From Bloomberd 9-4-2021
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