NEW YORK (BLOOMBERG) – For the second time in a little more than a week, Thomas Gottstein was facing a tough crowd: his own bankers.
The chief executive officer of Credit Suisse Group gathered dozens of managing directors at the global bank on a conference call late on Tuesday (April 6), as part of crisis-management efforts after the lender announced that it stands to lose as much as US$4.7 billion (S$6.3 billion) amid the meltdown of hedge fund Archegos Capital Management.
According to people with knowledge of the call, Mr Gottstein was grilled on the exposure and risk profile of the bank – and why it lost so much more than rivals in the debacle. Mr Gottstein could not yet give detailed answers, and instead pointed to the arrival of new chairman Antonio Horta-Osorio later this month as an opportunity to reassess its strategy, the people said.
