On March 14, Credit Suisse in its 2022 report identified "material weaknesses" in financial numbers and customer outflows. This hit investor, client confidence.
In 2019, COO Pierre-Olivier Bouée was charged of using private eyes to spy on high-level employees and was fired.
In February 2022, a massive leak of over 30,000 of Credit Suisse's clients revealed over $100 billion in wealth held by people who had profited from "torture, drug trafficking, money laundering, corruption and other serious crimes,
The bank has also changed top leadership multiple times since 2019, with the most recent changes coming in July 2022, with the group getting a new CEO.
The group's Chairman Axel Lehmann only took over from previous chairman Antonio Horta-Osorio in January 2022, after Horta-Osorio resigned for breaking quarantine rules during the pandemic.
Ulrich Koerner, the chief executive officer of Credit Suisse, on Tuesday informed that the bank plans to take Credit Suisse's carved-out investment bank Firdt Boston public by 2025.
Credit Suisse Group has tapped the Swiss National Bank for as much as $54 billion and offered to repurchase debt, seeking to stem a crisis of confidence that has sent shockwaves across the global financial system.