For the past three years, Tidjane Thiam (56) is at the forefront of Credit Suisse. Three years of Ivorians took time to bring the Bank back on course. Now it is time to take stock – the investor day in 2018, today is Wednesday.

A glance at the stock price For shareholders, the choice Thiams was a bad business. Since his arrival in July of 2015, the CS has lost share over half of their value. The judgment of Peter Casanova (53), an Analyst at Bank Julius Baer: “From the point of view of the stock market has not delivered Thiam!” But Casanova is called a range, in which the strategy of Thiam is indeed risen: “He has broken the dominance of the Investment-Banking culture that has controlled the Bank for decades.”

That was one of the tasks that had given to the Board of Directors Chairman Urs Rohner (59) Thiam: The CS to the solid asset management, Bank remodel, which is much less than formerly from the up and down of the markets. How he wants to achieve exactly, Thiam formulated at the investor day 2015.

these are the measured quantities,

4 – 10 – 11: these three Figures in billion Swiss francs must Thiam since measure. At the time, he announced, to reduce the cost by up to four billion increase in the profit before tax of around ten million and to earn until 2020 – so much money to the shareholders eleven billion is to be distributed.

Thiam can Save. He has restructured the Bank and the cost of 21 to 17 billion reduced. Earnings, however, haperts: The goal of increasing the profit before taxes of around ten billion Swiss francs, is miles, the CS far away. At the end of the third quarter, pre-tax profit was 3.8 billion. “The CS must now reveal where and how they in the future want to grow in order to increase profit,” says Andreas Venditti (46) of Bank Vontobel. “Because the restructuring is completed, the cost will be reduced as much as in the last three years.”

share buy back or dividend

Remain in the billions for the shareholders. Here Thiam still have some time, but not too long. “It will be interesting how the Bank in the future, with their capital wants to handle it, so how much dividend they will pay, and whether it buys shares back,” says José Javier Lodeiro of the ZKB is one of the open questions. It is clear, however: Without a profit, the payout target is illusory.

conclusion: Tidjane Thiam has met its objectives only partially. The gifted rhetorician might have in front of the investors, but no effort, his performance in the best light.

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Jennifer Alvarez is an investigative journalist and is a correspondent for European Union. She is based in Zurich in Switzerland and her field of work include covering human rights violations which take place in the various countries in and outside Europe. She also reports about the political situation in European Union. She has worked with some reputed companies in Europe and is currently contributing to USA News as a freelance journalist. As someone who has a Masters’ degree in Human Rights she also delivers lectures on Intercultural Management to students of Human Rights. She is also an authority on the Arab world politics and their diversity.