Ex-Credit Suisse Board Member Keeps Mum on Collapse

Behavioral economist Iris Bohnet served on the board of Credit Suisse for over ten years. In an extensive interview with the «Neue Zürcher Zeitung», however, she notably kept her comments very guarded on the subject.

The «Neue Zürcher Zeitung» (NZZ) published an interview on Tuesday with Swiss Professor and behavioral economist Iris Bohnet. Journalists Christin Severin and Aline Wanner also questioned the holder of the Albert Pratt Professorship of Business and Government at Harvard Kennedy School about the collapse of Credit Suisse.

Bohnet served on the bank’s board from 2012 until its collapse in 2023. As a behavioral economist, she surely could have offered interesting observations straight from the eye of the storm. However, on this subject, the interviewee was far from talkative:

«As a board member of Credit Suisse, you were a member of the remuneration committee. Would you accept the compensation in that time today?»

I can’t say anything about that.

«Why not?»

I can’t say anything about that.

«As a former board member, you can’t say anything about that?»

No. I can’t say anything about that.

«We find it difficult to discuss fairness and diversity with you while excluding your experiences at Credit Suisse. It’s also an opportunity for you to present your perspective on things.»

It is important to me to be able to say something about matters that are important for the world. But I only speak as a scientist.

«Doesn’t living a culture of learning from mistakes also have to do with fairness?»

I can’t say anything about that.

«We are interested not only in academic questions, but also in the real world. From a Swiss perspective, it is incomprehensible when the entire board of a large bank goes underwater.»

(Bohnet remains silent.)

This passage raises interesting questions: According to the former board member, is the collapse of Credit Suisse not «important» for the world? And how did this media-savvy professor manage to commit such a communicative blunder?

The NZZ is known for not pre-excluding any questions or topics in interviews, even if an interview partner wishes so. However, communication experts believe that Bohnet’s non-answers likely also have a legal background.

It is assumed that the former board members were prohibited, likely as part of the UBS takeover, from commenting on specific issues related to Credit Suisse’s past.