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Where were the board of directors?

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Where were the board of directors?

Invisible governing body

They are burying the 167-year-old bank: where were the board members during this crisis?

On the front page, the CH Media newspapers show the twelve ladies and gentlemen who, according to the Swiss Code of Obligations, should actually have been responsible for the “overall management” and “overall supervision” of CS. They remained invisible in the crisis. Many were appointed in the era of long-term President Urs Rohner.

Shock and a hangover prevail after the forced takeover of CS by UBS. The 167-year-old bank disappears, it has to be digested first. How big is the cluster risk with the giant UBS for Switzerland? What do the 209 billion Swiss francs with which the public sector is liable in the worst case mean? Does Parliament need a special session?

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