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Tidjane Thiam is famously ambitious, insular and inscrutable. How is he coping as he nears the end of a grueling three-year overhaul of Credit Suisse? A finews.com profile.

Credit Suisse boss Tidjane Thiam conveys zen in the face of his latest test: an opposition shareholder which wants to split up Switzerland's second-largest bank.

Appearing before media for the first time since RBR Capital Advisors launched its campaign last month, Thiam was poised, relaxed and confident, reminding more than one onlooker of his first appearance in Switzerland in March 2015. Then, Thiam was widely praised before even beginning his job, with even reclusive 85-year-old honorary Chairman Rainer Gut turning out to pay his respects.

Shortly after joining Credit Suisse, 55-year-old Thiam bought a home on Zurich’s pricey gold coast. He also made all the right noises about the bank’s long and storied tradition, which is closely linked to the golden age of Switzerland’s infrastructure build.

Pay Missteps

A lot has happened since then: Thiam embarked on an ambitious three-year restructuring, let go thousands of bankers, and was caught up in several embarrassing missteps involving pay and supposed excess.

Twenty-nine months later, his breeziness has been replaced by hard reality: Thiam has adapted Credit Suisse’s strategy and goals several times, all accepted by his major shareholders. Even RBR doesn’t truly represent a challenge to him: «It’s working!,» he exclaimed of CS’s strategy several times in a briefing on Thursday, as if to express his befuddlement that a shareholder would challenge him when things are finally going well.

On Thursday, all 11 of his top management were present, including Asia head Helman Sitohang, but Thiam is the only speaker. Finance chief David Mathers, no shrinking violet, speaks only briefly; Sitohang and investment bank head Brian Chin, private bank head Iqbal Khan and Swiss boss Thomas Gottstein don’t speak at all, even when questions about their units arise.

Grace vs Irascibility

Instead, Thiam telegraphs control with a dash of wit and grace: «I really never talk about competition except to say positive things,» he says when asked about UBS, before complimenting Sergio Ermotti on his stewardship of UBS. He avoided answering a question about any personal lessons drawn from Credit Suisse's pay snafu this spring.

Thiam even kept his irascible side – genuine impatience with those he believes simply don’t get it as much as intellectual snobbery – in check until he was queried on Credit Suisse’s share price.

«A child could tell you» that CS stock will be valued differently before and after raising 4 billion francs in capital from shareholders as the bank did earlier this year, Thiam hit back – his frustration apparent.