In our past writings, we have recounted in extensive detail the long stream of conduct, governance, and risk management failures that plagued Credit Suisse in the years leading up to its near-collapse and emergency rescue by UBS in March 2023.1 We will not seek to repeat that saga here. We would, however, encourage you to reference our past Compendium editions [See also Starling Insights articles covering Switzerland] and our 2022 Deeper Dive, “The Costs of Misconduct,” for more information. [See also the Deeper Dive report The Costs of Misconduct]
In the wake of Credit Suisse’s demise, it has been widely recognized that the bank was brought down by deficiencies in culture, governance, and risk management. In a Wall Street Journal article in November 2023, journalist Margot Patrick traced the decline of Credit Suisse, analyzing the impact of Urs Rohner's leadership during his tenure as Chairman of the bank from 2011 to 2021.2
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