In fact, this is the second memo sent in the last two weeks in order to calm the spirits among the worried bank employees. Koerner told employees not to confuse the “day-to-day” stock price performance with the Swiss company’s “strong capital base and liquidity position,” according to Bloomberg.
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These days, Credit Suisse is in the midst of a restructuring process for the investment bank, as part of the efforts to return to profitability and leave behind a series of scandals that damaged the bank. Also, according to the memorandum, Kerner admitted that there is uncertainty and speculation both inside and outside the bank, but promised to send a regular update to employees until the results of the strategic assessment are published on October 27.