The most significant Swiss joint-stock group Credit Suisse rejected the offer of the Swiss investor to dissolve the country’s second-largest bank. He is saying that their current strategy is beginning to pay off.
David Harrow’s Statement At The Interview
In the e-mail conversation, David Harrow stated that his company Harris Associates owns 9 percent of the Swiss Bank. According to the last interview with David, the current plan of the bank’s appeal is working, and just needs some more time for development.
In an interview on “Bloomberg TV,” Harrow gave a clear example. He told it was impossible to launch an aircraft carrier in a month or a quarter. Also, in his opinion, companies should develop slowly, but confidently. That’s why he is confident about the Harris Associates’ success.
The Swiss creditor, who started recruitment two years ago under the leadership of Chief Executive Officer Tijane Thiam, reduced trading operations. He decided to focus first of all on the funds accumulation. The progress of growing profitability turned out to be slow, and during the Thiam’s management the shares fell in price by three times.
Bolhi leads to devide Credit Suisse into an investment bank, wealth management, and asset management – according to his plan. The Bolhi’s company owns 256 million US Dollars.
In October 2017, Credit Suisse’s shares in Zurich went up by 1.3%. Before that, the stock market of this company grew by 10%.
Harrow believes that the Swiss activist was simply underestimated among economists. In fact, it has considerable potential.
The Harrow’s company has been invested in Credit Suisse’s shares for more than 12 years. Funds rose to CHF 87.39 in 2007 before the financial crisis. And now the shares fell by 82% to GHF 15.66.
In the second quarter, the profit increased by 78%, as the cost reduction positively affected the world market. Next month, the bank will publish a report on revenues for the third quarter and will inform investors about the implementation of its strategic shift on the investor’s day.
BWM AG portfolio manager Thomas Brown is confident that Credit Suisse is too integrated. So, the bank continues to face considerable problems with hiring. After all, Thomas owns about 4.6 million Credit Suisse’s shares. Reflecting, the manager says: “Everything is possible, but is it reasonable and feasible?”
This question is fundamental and logical for everyone who sees his future income in investing. You will always find out what to invest in. But before every investment stop and think: “Is my decision reasonable?”
Decide your investment consciously!