Zurich (awp) – Representatives of the American pension fund Artisan Partners have told the Reuters news agency that they are calling for the departure of Credit Suisse chief executive Thomas Gottstein. Artisan Partners is among the ten main shareholders of the bank and holds 1.5% of the shares, according to the agency.
During an interview, David Samra, director of Artisan Partners, criticized Mr. Gottstein’s performance. There is no evidence to support its retention, he said. Instead, the bank needs new management to regain its former strength, which must ultimately be reflected in the share price.
Without the right people at the head of the establishment, there will be no progress, estimated Mr. Samra, who calls for a simplification of the structure and evokes pell-mell the sale of certain units, the IPO of divisions or a merger with another bank, Swiss or American.
However, Mr. Gottstein should only step down when a suitable successor has been found, according to Artisan Partners. Asked by Reuters, other major shareholders were critical of Mr. Gottstein’s balance sheet, but none wanted him to leave.
Last Friday, Axel Lehmann, chairman of the board of directors of the bank with two veils, confirmed to the Bloomberg agency his confidence in Mr. Gottstein.
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