Credit Suisse chairman Axel Lehmann said Tuesday he was "truly sorry" that the beleaguered bank could not be saved as he faced angry and tearful shareholders whose money has gone up in smoke.
“I apologize that we were no longer able to stem the loss of trust that had accumulated over the years, and for disappointing you,” Axel Lehmann said at the bank’s final shareholder meeting.
The chairman of Credit Suisse has apologized to shareholders for failures and acknowledged the shock and anger felt as the 167-year-old Swiss bank is set to be swallowed up by rival UBS in a government-arranged takeover.
Tuesday’s meeting in Zurich was the first opportunity for Credit Suisse’s angry shareholders to confront the bank’s leadership in person since the UBS takeover.
By Hanna Ziady, CNN Credit Suisse Chairman Axel Lehmann apologized to angry shareholders Tuesday after the ailing Swiss lender required an emergency rescue last month that left investors nursing heavy losses. “It is a sad day.
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‘I Am Truly Sorry': Credit Suisse Chair Pleads With Angry Shareholders at Annual Meeting | Since Then
