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Analysis, Culture & Conduct, Governance & Reporting

How to clean up a bank in 120 days

By Ellesheva Kissin
August 2, 2023
Ulrich Koerner, chief executive officer of Credit Suisse Group AG, during a Bloomberg Television interview in London, UK, on Tuesday, March 14, 2023. Credit Suisse saw client inflows on Monday, as markets were thrown into turmoil after the collapse of multiple regional US banks, Koerner said. Photographer: Hollie Adams/Bloomberg
Ulrich Körner, CEO of Credit Suisse. Image via Bloomberg Mercury

UBS has just 120 days to bring its problem child, Credit Suisse, into line as it is forced to comply with stringent orders from regulators.

The US Federal Reserve and the UK’s Prudential Regulation Authority issued UBS with fines totalling $387m on July 24 relating to misconduct at ...

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