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Risk Management Lapses Continue to Impact Credit Suisse

Risk Management Lapses Continue to Impact Credit Suisse

by Starling Insights

Starling Insights Editorial Board

Nov 17, 2021


The cost of earlier misdeeds is likely to keep impacting Credit Suisse's risk management efforts. Even before suffering twin disasters from the implosion of family office Archegos Capital Management and Greensill Capital’s bankruptcy, the bank was among the world’s most heavily fined. Since 2014, it has paid out more than $10 billion in legal penalties and settlements.

Recently, Chairman António Horta-Osório announced a revamp of the bank to mark a new chapter in its history. On the day of the announcement, the bank’s shares fell nearly 5%. They are down about 18% this year, compared with around a 40% rise in the Stoxx Europe 600 banks index. A recovery, analysts and investors say, will require the bank to eliminate the uncertainty from past instances of risk management failures.

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