Credit Suisse Taking `Right Lessons' From Archegos: CEO

The transcript discusses the financial impact of the Archegos scandal on Credit Suisse, highlighting significant charges and the bank's strong investment banking performance. It covers risk management strategies, including asset reduction and strategic reviews, emphasizing the core role of investment banking. The transcript also details a risk review report, identifying failures and improvements in risk management. Finally, it addresses management losses and staff retention strategies, noting industry-wide turnover trends and recruitment efforts.

What was the total charge incurred by Credit Suisse due to the Archegos scandal in the first half of the year?

• $600 million

• $5.5 billion

• $20 billion

• $2.8 billion

What strategic action did Credit Suisse take in response to the Archegos incident?

• Reduced risk-weighted assets and leverage exposure

• Expanded prime brokerage services

• Hired more managing directors

• Increased investment in technology

What is the core focus of Credit Suisse's strategic review?

• Reducing headcount globally

• Expanding into new markets

• Integrating wealth management with investment banking

• Downsizing investment banking

What was identified as a major failure in Credit Suisse's risk management report?

• Lack of effective risk management in prime services

• Over-reliance on external consultants

• Failure to expand into new markets

• Excessive investment in technology

How is Credit Suisse addressing the issue of staff turnover in investment banking?

• Recruiting new staff and promoting internally

• Expanding into new regions

• Offering higher salaries

• Reducing workload

What was the reported turnover level at Credit Suisse compared to previous years?

• Same as previous years

• Lower than previous years

• Higher than previous years

• Not reported

What is the main goal of Credit Suisse's global risk review?

• To expand into new markets

• To reduce staff turnover

• To ensure robust risk management

• To increase investment in technology