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Did Poor Governance Bring Down Credit Suisse?

Did Poor Governance Bring Down Credit Suisse?

by Starling Insights

Starling Insights Editorial Board

Feb 08, 2024

Observations

Switzerland Bank Failures Managing Culture & Conduct for Good Governance Governance, Audit & Regulatory Failures Challenges in Governance

ICYMI: In a Wall Street Journal article from November 2023, journalist Margot Patrick traces 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.

Following Credit Suisse's liquidity crisis and eventual emergency rescue in Spring 2023, much of the blame was placed on external circumstances. "But insiders and investors combing over the wreckage say that Credit Suisse's board, headed by Rohner, was ultimately responsible," Patrick writes. “It was the bearer of a flawed culture that led the bank into a series of calamities.”

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