Thiam Sees Possibility of `Traumatic’ Event as Rates Increase

  • Credit Suisse has to position itself `quite defensively’
  • Swiss bank last month reported drop in third-quarter profit

Credit Suisse Group AG Chief Executive Officer Tidjane Thiam said he sees the risk of a “traumatic event” in global markets once the current period of low interest rates comes to an end.

“Frankly, it’s quite likely that there will be at the end of all this period a relatively traumatic event,” Thiam, 53, said in an interview with Bloomberg Television on Tuesday in New York. “It’s quite likely that interest rates will rise and there will be impacts in the real economy, the real world, so as a financial-services company, we have to position ourselves quite defensively.”…

Thiam Sees Possibility of `Traumatic’ Event as Rates Increase

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