Discontent with making millions, they shot for making billions and lost to people who manipulate thousands.
Greed and lack of morals. Easy.
They gave loose hands to Tidjane Thiam, who although knew the job and started moving things, was an autocrat and *ousted* Iqbal Khan (oversimplified story). With 2 CEOs being out, instead of deleveraging and getting rid of toxic assets from the books, they (unfortunately) did nothing.
New people came in and they did’t know where the bodies were burried.
Perfect storm was just waiting to happen, which was triggered by COV19 (i.e. Archegos, etc.)
Now they are awaiting to be taken over by UBS for literally cents on the dollar.
Rohner, without doubt.
Unfortunately a lesson that presidents really should know a thing or two about banking.
Bad reputation. Active cooperation with money laundering scandals worldwide, loosing money from clients. Non tax compliance clients. They will need a lot of time to get a new good reputation
UBS is next… Those two banks are scams…
buy some of their stock
A one back in 10 years
Paying to much bonus salarie, for less then mediocre work.
9 comments
Ooofff
Discontent with making millions, they shot for making billions and lost to people who manipulate thousands.
Greed and lack of morals. Easy.
They gave loose hands to Tidjane Thiam, who although knew the job and started moving things, was an autocrat and *ousted* Iqbal Khan (oversimplified story). With 2 CEOs being out, instead of deleveraging and getting rid of toxic assets from the books, they (unfortunately) did nothing.
New people came in and they did’t know where the bodies were burried.
Perfect storm was just waiting to happen, which was triggered by COV19 (i.e. Archegos, etc.)
Now they are awaiting to be taken over by UBS for literally cents on the dollar.
Rohner, without doubt.
Unfortunately a lesson that presidents really should know a thing or two about banking.
Bad reputation. Active cooperation with money laundering scandals worldwide, loosing money from clients. Non tax compliance clients. They will need a lot of time to get a new good reputation
UBS is next… Those two banks are scams…
buy some of their stock
A one back in 10 years
Paying to much bonus salarie, for less then mediocre work.