Credit Suisse’s investor meeting this year should prove a walk in the park compared with the acrimonious affair last year. The Swiss bank's most vociferous opponent won't be there - but he hasn’t thrown in the towel yet.
The perennial bones of contention at the Credit Suisse shareholder meeting, namely the eye-watering management salaries and poor share performance, are unlikely to make waves at this year’s get-together.
The prominent U.S. voting rights advisor ISS and Glass Lewis have already lodged their opinion on the management pay report, and while opposition has been signaled from the Swiss Ethos Foundation and the shareholder activist group Zrating, this is unlikely to spoil the show for Chairman Urs Rohner.
Appearance at the AGM?
This would be the ideal time for hedgefund activist Rudolf Bohli to present his argument to shareholders for a digital wealth manager strategy without the drag of the investment bank and asset management units. However the head of the hedgefund RBR Capital isn’t planning an appearance at this year’s shareholder meeting.
This year’s agenda only contains submissions from members of Credit Suisse's board. A spokesman for the bank told finews.com that «Rudolf Bohli no longer owns any Credit Suisse shares entered in the share register.»
Only Present as Activist
This suggests Bohli will refrain from exercising the voting rights tied to his holding in the Swiss bank, which he put at 0.2 percent last year. In fact the Zurich investor has kept a very low profile in recent weeks and months.
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