© Reuters. FILE PHOTO: A Credit Suisse sign is seen on the exterior of their Americas headquarters in the Manhattan borough of New York City, September 1, 2015. REUTERS/Mike Segar
ZURICH (Reuters) -Credit Suisse Group’s Investor Day on Thursday will provide an update on its group strategy review and follows a presentation of the Swiss bank’s third-quarter results, it said on Monday.
Chairman Antonio Horta-Osorio, who joined the bank in April from Britain’s Lloyds (LON:), has promised a new strategy for Switzerland’s second-largest lender and a review of the bank’s risk management and culture in the wake of crises that prompted a raft of executives to leave.
The investor event will be held in London and will be accessible via webcast and telephone conference.
Credit Suisse (SIX:) last month agreed to around $475 million to U.S. and British authorities to resolve bribery and fraud charges relating to the $2 billion Mozambican corruption scandal, while its subsidiary pleaded guilty to a conspiracy charge in New York.
The settlement was the latest blow for the scandal-plagued Swiss bank and was announced the same day that Switzerland’s financial regulator reprimanded it for a long-running corporate espionage saga.
The bank was already reeling from a string of scandals including heavy losses from the collapse of U.S. family office Archegos, client losses stemming from the collapse of supply chain finance company Greensill, and allegations that it snooped on former top wealth management executive Iqbal Khan.
Horta-Osorio has said the scandals are the gravest he has seen.
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