Marcus Diethelm (64) is a skilled and intelligent bank fox. It looks like the former chief legal officer of UBS is on the cusp of a move to crisis-ridden Credit Suisse. As reported by various media. He is being traded as a hot contender for the position of Chief Legal Officer of CS. Ranking: Diethelm must be cleaned at Credit Suisse.
The big bank doesn’t want to confirm the transfer yet. After all, CS asserts that it is currently interested in filling “potential management positions,” as noted in the “Tages-Anzeiger” report. Credit Suisse will present its quarterly results on Wednesday.
Not controversial within the bank
Diethelm resigned from his job as Chief Legal Officer at the end of 2021. After 13 years at UBS, he is dying of defiance. And CS chief lawyer Romeo Cerruti is not without controversy within the bank. He is bothered by constant legal controversies, and criticism of his work intensifies. With his hard-line streak he hasn’t achieved much yet.
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The timing of the change in the Chief Legal Officer of CS would be ideal. The big bank just announced new provisions for legal disputes. “The recent rulings on legal risks will not be the last,” says Andreas Findetti, banking analyst at Fontobel at Tigers Anzeiger. “Investors have long underestimated the risks of legal issues in CS.” (pbe)
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