Credit Suisse Group AG is set to announce the departure of Chief Executive Thomas Gottstein, according to people familiar with the bank, part of an effort to turnaround the Swiss bank’s struggling fortunes. The timing of his departure couldn’t be determined, but an announcement could come as soon as Wednesday, when the bank is set to release quarterly results, the people said. Credit Suisse CSGN, +1.01% flagged in June that it would report its third quarterly loss in a row.

Source: Wall Street Journal July 27, 2022 02:15 UTC