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Credit Suisse to present strategy update on Thursday -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Credit Suisse sign can be seen outside their Americas Headquarters in Manhattan, New York City on September 1, 2015. REUTERS/Mike Segar

ZURICH (Reuters). Credit Suisse Group’s Investor Day will present an update on their group strategy review on Thursday. It follows a presentation by the Swiss bank on Monday.

Antonio Horta Osorio (British Lloyds) joined the bank as chairman in April. He was previously with the Lloyds in London.

Investor event to be held in London. It will be available via webcast or telephone conference.

Credit Suisse (SIX), last month, agreed to $475million to U.S. authorities and British officials to solve bribery-fraud charges in connection with the $2B Mozambican corruption scam. Its subsidiary also pleaded guilty to New York conspiracy.

The latest settlement for scandal-plagued Swiss bank was announced at the same time that Switzerland’s financial regulator had reprimanded them for their long-running corporate spyage story.

Already reeling from several scandals such as the loss of U.S. family offices Archegos and client losses due to the collapse in supply chain finance firm Greensill and claims that the bank spied on Iqbal Khan, a former wealth manager.

Horta Osorio said that the scandals were the most grave he’s ever seen.

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