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New Credit score Suisse chairman eyes danger and tradition, strategic choices By Reuters 

© Reuters. FILE PHOTO: Brand of Swiss financial institution Credit score Suisse is seen in Zurich

ZURICH (Reuters) – Credit score Suisse (SIX:)’s incoming Chairman Antonio Horta-Osorio intends to try the financial institution’s danger administration and tradition following latest crises, in addition to reviewing strategic choices for the financial institution, he instructed shareholders upon his election on Friday.

Shareholders elected the previous Lloyds (LON:) CEO with 96.45% approval throughout a time at which the financial institution has been roiled by billions in losses.

“It takes years to construct a status whereas it may be critically affected actually in a single day,” he instructed shareholders in a webcast speech. “Over three and a half many years, I’ve personally labored at and led a number of banks in several international locations and have lived via many crises. What has occurred with Credit score Suisse during the last eight weeks, with the US-based hedge fund and the provision chain finance funds issues, actually goes past that.”

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