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CS President Makes Gottstein CEO Lame Duck

Credit Suisse receives a new risk manager two days before its quarterly results. This is a US Goldman Sachs veteran and should make CS a secure title again.

In the media statement released this morning from employees, the new man’s CEO, CS CEO Thomas Gotstein, wasn’t the first to speak. But the chairman of the bank ie the supreme representative of the owners of CS.

“I am pleased to welcome David (Wildermouth) to Credit Suisse, where he will help shape the group’s enhanced risk management framework, an essential part of the bank’s strategic reorganization currently underway,” Antonio Horta-Osorio said in the statement. Des Goldie Bankers.

Erst danach darf Thomas Gottstein seinen Beitrag leisten. „(David) is the right person to lead and strengthen our risk organization. I look forward to working closely with David in his new role and as a member of the Executive Board.

The click order shows what has been hit for a long time. In CS, it is no longer the CEO who decides on central issues, but the president.

CS earlier this morning referenced earlier personal details, in which the president also appeared before the CEO.

The Heart of Minorities – and Old Friends (Facebook)

Gotstein’s lame duck. The impression that the Swiss are still there, but mainly play the second violin, takes hold from week to week.

Horta-Osorio sets the speed. Gotstein explains.

This is not surprising. Under Gotstein, Credit Suisse plunged into the crisis of the century. Billions of losses in trading and asset management cast a dark shadow over the CEO’s short tenure.

A man with an expiration date. So it makes it appear.

If Gottstein wants to be more than a tolerant, i.e. CEO of the future, he will need to break free. It is not clear what this might look like.

It remains for him to remain in profitable roles for himself and his companions for a few more months. Gotstein’s personal advisor, also Swiss, is allowed to stay on CS payroll for some time.

good old atmosphere(CS)

We’re talking about Joachim Oechslin. In the spring, when CS sent Lara Warner out into the desert, she went down again in the pants. As interim head of risk, Oechslin will remain in office until the Wall Street newcomer takes command of the Central District.

Oechslin will then return to his old role as “strategic advisor to the Group CEO”: Thomas Gottstein’s sparring partner.

Why the CEO needs one is another question mark surrounding the supposedly most important banker in the group. One thing is for sure: to help each other out on top in these difficult times.