Swiss investment adviser calls on Credit Suisse chairman to quit over spying scandal

first_imgVincent Kaufmann, who leads the Ethos Foundation, said today that Rohner staying on as chairman for another year as planned was not desirable.  Swiss investment adviser calls on Credit Suisse chairman to quit over spying scandal It emerged yesterday that three of the bank’s top shareholders have backed Thiam in the boardroom battle following reports Rohner was drawing up a list of candidates to replace the chief executive.  Credit Suisse chief executive Tidjane Thiam (L) and chairman Urs Rohner are locked in a power struggle at the bank (AFP via Getty Images) Also Read: Swiss investment adviser calls on Credit Suisse chairman to quit over spying scandal whatsapp Anna Menin Credit Suisse chief executive Tidjane Thiam (L) and chairman Urs Rohner are locked in a power struggle at the bank (AFP via Getty Images) Also Read: Swiss investment adviser calls on Credit Suisse chairman to quit over spying scandal The chairman of Harris Associates, which owns 8.4 per cent of the bank, said “we are at the stage now where it is one or the other” and said the company backed Thiam.  Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowUndoAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoFactablePut Baking Soda Around The Base Of A Tomato Plant, Here’s WhyFactableUndoCrowdy FanCouple Who Waits 9 Years To Open Their Wedding Present Gets A Rude AwakeningCrowdy FanUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo Sign up to City A.M.’s Midday Update newsletter, delivered to your inbox every lunchtime US hedge fund Eminence Capital and London-based Silchester International Investors also both threw their weight behind the chief executive.  Credit Suisse declined to comment.  Share Show Comments ▼ Kaufmann also told Reuters that Thiam should leave Credit Suisse if it emerges that he was lying about his awareness of the spying, but said that Rohner should be first to quit. The head of a prominent Swiss investment adviser has called on Credit Suisse chairman Urs Rohner to step down, as a boardroom battle sparked by the bank spying on executives escalates.  Rohner has been locked in a power struggle with chief executive Tidjane Thiam since the revelation in September that the Swiss lender had hired a corporate espionage agency to tail a former executive after he defected to arch-rival UBS. “Can we afford an additional year of tensions between the chairman, the chief executive, the media and the trust of the employees and the clients? All this makes us think we need to change quicker.” whatsapp Thursday 6 February 2020 2:15 pm “These cases within the management team make our doubts even stronger as to how the board is supervising the bank’s management and how the chief executive is supervising his colleagues,” Kaufmann, who has been a critic of Rohner for years, told Reuters. Kaufmann’s comments put further pressure on the Swiss lender to overhaul its leadership team, as the bank’s investors take sides in the aftermath of the spying scandal.  Credit Suisse chief executive Tidjane Thiam (L) and chairman Urs Rohner are locked in a power struggle at the bank (AFP via Getty Images) Tags: Credit Suisselast_img read more