The head of Credit Suisse's Swiss unit said 'some customers have withdrawn some of their money, but very few have actually closed their accounts.'
The slogan "Of course it works." is seen behind as CEO Andre Helfenstein of Credit Suisse AG addresses a news conference in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann
during Q4 and revealed that wealthy clients had made hefty withdrawals, leading to a big drop in liquidity, breaching some regulatory limits. "In our Swiss Bank division, client assets have stabilised, and we have lost a total of 1% of our asset base," said Andre Helfenstein in an interview published on Sunday with Swiss newspaper SonntagsZeitung.
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