Credit Suisse seeks to remain independent, chairman says – FT

Swiss bank Credit Suisse (CSGN.S) sees its future as an independent entity, Chairman Axel Lehmann told the Financial Times, amid speculation that the beleaguered group could be acquired or broken up.

“We have a 166-year-old history, and I’m a strong believer that as an independent company alongside other large banks in Europe and in Switzerland, that’s the future of the bank,” Lehmann said in a video posted on the paper’s website on Thursday.

Switzerland’s second-largest lender has described 2022 as a “transition” year in which it is trying to turn the page on costly scandals that prompted a near-total reshuffle of top management and a restructuring seeking to curtail risk-taking, particularly in its investment bank.

It has sought repeatedly to dampen speculation that it could be swept up in sector consolidation.

State Street Corp (STT.N) said last month it was not looking to buy Credit Suisse, denying a report that it was seeking a deal.