The 167-year-old history of the Swiss bank Credit Suisse came to its conclusion at a hockey stadium in the north of Zurich Tuesday. With security at his side, the bank’s last chairman, Axel Lehmann, told nearly 2,000 angry shareholders that he was “truly sorry” for the storied institution’s collapse, which forced fellow Swiss lender UBS into a controversial takeover last month.
“I apologize that we were no longer able to stem the loss of trust that had accumulated over the years, and for disappointing you,” he said at the bank’s final shareholder meeting, flanked by police security. “I can understand the bitterness, the anger, and the shock of all those who are disappointed, overwhelmed, and affected by the developments.”
