CS chief gives upbeat outlook for Swiss banking

The chief executive of Credit Suisse, Brady Dougan, says he is confident that Swiss banks are well placed to deal with the challenges of the future.

This content was published on December 27, 2011 - 10:39

In an interview with the newspapers, Tages-Anzeiger and Der Bund, Dougan said Switzerland would come out stronger from a tax row with the United States.

He said the quality of Swiss banking would prevail even without the advantage of banking secrecy for taxes.

Dismissing the gloomy forecasts by the former CEO of rival UBS bank, Oswald Grübel, Dougan said Switzerland offered excellent conditions to remain a leading financial centre.

He praised the Swiss government for ensuring continuity and upholding a predictable policy line.

Dougan, CEO of Credit Suisse since 2007, also said he backed calls by a global protest movement demanding clear banking regulations to prevent a new crisis and bailout programmes by the states.

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