His resignation was announced on Wednesday during the second quarter earnings result.
Credit Suisse CEO Thomas Gottstein has officially resigned at the same time that it announced another quarterly loss and amid another comprehensive strategic review of its activities, a media release sent by the bank Wednesday confirmed.
Gottstein had been under pressure for months as it continued to post consecutive quarterly losses while attempting to recover from the twin Archegos and Greensill debacles. He assumed leadership of the bank in the middle of February 2020 from Tidjane Thiam following his resignation in wake of the Spygate scandal involving the then head of the wealth management business Iqbal Khan, who then resigned to subsequently join UBS.
Major shareholders had increasingly been calling for Gottstein's resignation although Axel Lehmann, who has chaired the bank since early this year, staunchly defended Gottstein until this juncture.
