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When I left, Credit Suisse had 3.5 billion Swiss francs in net profit (2019)“, emphasizes Tidjane Thiam. DENIS BALIBOUSE/REUTERS
DECRYPTION – Pushed towards the exit in 2020, the Franco-Ivorian polytechnician does not want to be involved in the current crisis experienced by the Swiss bank.
What happened to Credit Suisse? The rout and surrender of this 167-year-old institution, forced to sell itself at a knockdown price to its rival UBS last weekend, has not finished making ink flow. In this story, Tidjane Thiam occupies a role, but which one? The Franco-Ivorian polytechnician, recruited by the Swiss giant in 2015 when he was the boss of the British insurer Prudential, led it for five years. It was pushed for release in 2020 by then-chairman Urs Rohner. A significant episode in the managerial instability that has become legendary at the head of the banking group.
Thiam was caught in a private espionage scandal targeting in particular a leader of the wealth management activity who left at UBS. A story that made the headlines of the Swiss press, people and finance, and took on incredible proportions against a backdrop of internal rivalries and sometimes racism. Tidjane Thiam no longer wants to talk about it. “I refuse that…
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