"You can commit to what you control; if you commit to what you don’t control, you are just a fool.”
- Tidjane Thiam, in response to criticism of his new plan for Credit Suisse. Rather than dramatic restructuring seen at other banks, Credit Suisse will reduce the amount of risk-weighted assets by about a fifth and raise equity through a combination of increasing capital by $6.3 billion from sales of shares, scaling back investment banking, slashing costs and a modest shake-up among senior management.
Thiam is a French Ivorian businessman and former politician who became the Chief Executive of Credit Suisse in June 2015. Born in Côte d'Ivoire, he holds dual Ivorian and French citizenship.
Quoted in the Financial Times print edition October 27, 2015 "Regulator plays part in Credit Suisse chief's quiet revolution" by Patrick Jenkins
Photograph by Credit Suisse via Flickr