The Körner plan: why Credit Suisse’s last major rescue plan failed in summer 2022

The Körner plan: why Credit Suisse’s last major rescue plan failed in summer 2022
The Körner plan: why Credit Suisse’s last major rescue plan failed in summer 2022

Published on November 29, 2024 at 08:42. / Modified on November 29, 2024 at 3:05 p.m.

5 mins. reading

The story begins with intense debates. For three months, between July 27 and October 27, 2022, Credit Suisse (CS) held difficult discussions with the financial markets watchdog (Finma). The sale of the investment banking division, a project by the management in place to try to give the bank a new start, was then at the heart of these discussions.

Backtracking. At the beginning of January 2022, Axel Lehmann succeeds Antonio Horta-Osorio as president and at the end of July appoints a new managing director in the person of Ulrich Körner. The latter has led Asset Management at Credit Suisse since 2021.

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