In what is becoming a habit, Ulrich Koerner put in a word of reassurance with employees on Friday after the bank’s share price took a bashing.
In just his third month as CEO, Ulrich Koerner said he was fully aware that there was significant uncertainty and speculation surrounding Credit Suisse, which is why he intended to update employees on a regular basis, according to an internal memo obtained late Friday finews.com and confirmed by a spokesperson.
«I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank,» Koerner said, adding that there would be «more noise» in the markets to come until October 27, the date when the bank reveals its new strategy.
All-Time Low
The stock price reached an all-time low last week, tumbling to 3.67 Swiss francs after a slew of speculative articles, culminating in reports that the bank was pulling its business out of the US (subsequently denied by the bank) and was talking to investors about a potential capital increase.
«I know it’s not easy to remain focused amid the many stories you read in the media – in particular, given the many factually inaccurate statements being made,» Koerner said.
