Credit Suisse's Top Execs Buy Shares
Executives and board members of Credit Suisse have increased their personal stakes in the bank following yesterday's strategy revision.
Members of the supervisory board and executive committee of Credit Suisse bought shares worth 6.2 million Swiss francs ($6.2 million) in connection with yesterday’s investor day, according to information provided by the Swiss stock exchange (SIX).
CEO Tidjane Thiam and Chairman Urs Rohner were among buyers of the stock, according to information obtained by Reuters news agency.
New Targets Presented
The purchase of own shares by high-ranking executives mirrors a similar action by UBS CEO Sergio Ermotti. He bought 1 million UBS shares in October worth a total of 13 million francs, or almost equal to his annual salary.
Thiam yesterday presented his conclusions from the three-year rebuild of the bank to shareholders and offered new plans for Switzerland’s No. 2 lender. Credit Suisse said it would give some capital back to its investors through higher dividends and share buybacks.
