Credit Suisse’s demise: a new twist on the ‘Swiss finish’

Credit Suisse's failure has damaged Switzerland's reputation in investment banking, wealth management and regulation. The way CS failed and its hangover implications for the Swiss financial centre are profound. UBS alone will now account for two and a half times the GDP of Switzerland, an even more

March 27, 2023 . 10:28 AM

1 min read

Credit Suisse's failure has damaged Switzerland's reputation in investment banking, wealth management and regulation.
Credit Suisse's aggressive culture, poor risk management and fudged decision-making contributed to its problems.
The regulatory system that was supposed to give the banks a halo of virtuous strength was another part of the problem.
The episode has hurt the reputation of the Swiss authorities as well as the country's banks.
UBS alone will now account for two and a half times the GDP of Switzerland, an even more challenging 'too-big-to-fail' risk for the country.