Credit Suisse Ulrich Körner Switzerland UPS Strategy Credit Suisse Ulrich Körner Switzerland

Credit Suisse crisis: Panicked bankers, break-up calls and central bank injection

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Credit Suisse chief executive, Ulrich Körner, called on its employees to “focus on facts” after the troubled Swiss lender revealed it had tapped the Swiss National Bank for up to CHF50bn following a 30% slump in shares and signs of distress in its bonds.As pep talks go, Körner’s pitch to staff in his latest memo on 16 March is straightforward — the bank is well-capitalised and its strategy overhaul announced in October should be the key focus — but it can hardly be described as a rallying cry for already demoralised employees.

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