Tidjane Thiam - Credit Suisse Group

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Last quote by Tidjane Thiam

I hope that this decision will alleviate some of the concerns expressed by some shareholders and will allow the executive team to continue to focus on the task at hand. My highest priority is to see through the turnaround of Credit Suisse which is under way. Our decision [to cut the bonus pool] reflects the total confidence we have in the progress we are making. Although that progress is not yet reflected in our share price, I am confident that our strategy and our disciplined execution will in due course create value for you, our shareholders.feedback
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Apr 14 2017 Credit Suisse
Tidjane Thiam has been quoted 45 times. The two most recent articles where Tidjane Thiam has been quoted are Credit Suisse executives slash their bonuses by 40% and Credit Suisse caves into investor pressure and cuts executive bonuses. Most recently, Tidjane Thiam was quoted as having said, “I hope that this decision will alleviate some of the concerns expressed by some shareholders and will allow the executive team to continue to focus on the task at hand. My highest priority is to see through the turnaround of Credit Suisse which is under way. Our decision [to cut the bonus pool] reflects the total confidence we have in the progress we are making. Although that progress is not yet reflected in our share price, I am confident that our strategy and our disciplined execution will in due course create value for you, our shareholders.”.
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Tidjane Thiam quotes

We really need to become much more nimble and articulating what we do and the benefits…for me regulation in many ways has become an expression of the loss of that mandate.feedback

We are protecting returns during volatile markets to provide significant upside when conditions improve and there's good reason to believe that they are improving.feedback

Looking ahead, we expect market activity to continue to be influenced by geopolitical and macro-economic uncertainty over the next several quarters and the outlook to remain challenging.feedback

During 3Q16, we continued to make progress in implementing our strategy. We have reduced costs significantly and continued to grow profitably in our chosen markets.feedback

We will not be very impacted by passporting. Around 15-20 pct of volumes will be impacted.feedback

We had since last year, announced a plan to reduce our footprint in London. We have around 2,000 people in London. Our strategy has always been to deemphasize London.feedback

We are going through our relationships with external asset managers and let's say pruning them to make sure that we only keep the desirable ones. I believe that's risk reduction. It's really an investment in the future.feedback

Since joining the bank in 2003, Brian has been one of our strongest risk managers and has been an integral part in developing the strength of our global markets franchise.feedback

Over his 25-year career at Credit Suisse, Eric has held a number of senior positions including: CEO of Asia Pacific, CEO of the investment bank, and CEO of Europe, Middle East and Africa. He also served on the executive board for six years from February 2008 to October 2014.feedback

We have been very cautious, because everybody knows what the uncertainties are – (for example) Brexit – and no-one knows how it is going to play out.feedback

This has been a quarter of continued progress for Credit Suisse.feedback

That's the price paid for a chronic lack of investment in education. Something must be done at the national level so there aren't so many people left behind that the result of a national, democratic vote gives a result which is bad for the country in the medium term.feedback

While we saw tentative signs of a pick-up in activity in March and then in April, subdued market conditions and low levels of client activity are likely to persist in the second quarter of 2016 and possibly beyond.feedback

Revenues (at Global Markets) have remained weak in the period, with negative operational leverage.feedback

Today, we are announcing an increase to our 2018 cost reduction target from 3.5 billion Swiss francs gross savings to at least 4.3 billion francs, driving our absolute operating cost base below 18 billion francs by 2018. For 2016, we aim to achieve 1.7 billion francs in cost savings.feedback

In this context, we have taken immediate action to reduce outsized positions in activities not consistent with our new strategy and systematically reduced our exposures.feedback

(We have) very unique market conditions and they are challenging, but fundamentally we are maintaining the objectives and the targets we have presented.feedback

It's a clean-up and a turnaround. There is the need to deal with some legacy issues. There are a lot of restructuring charges attached to what we're doing. It's a big clean-up, but it's necessary.feedback

You are cutting right to the chase of the matter.feedback

Internationally speaking, the Swiss business is the most underestimated part of Credit Suisse and the share sale will reveal its value.feedback

What I can say is that we have a strong balance sheet.feedback

We need to continue to implement our strategy with discipline and clarify where there are misunderstandings.feedback

I have asked the board of directors for a significant reduction in my bonus. Within the management team, the cut is greatest in my case. I cannot demand sacrifices from others and not make any myself.feedback

We do not condone structures for tax avoidance. Whenever there is a structure with a third party beneficiary we insist to know the identity of that beneficiary.feedback

We as a company, as a bank only encourage the use of structures when there is a legitimate economic purpose.feedback

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