GENEVA — for what is shaping up to be their last crack at managers following a colossal collapse of the bank’s stock price over the last decade and as rival UBS is set to gobble up the 167-year-old Swiss lender at a bargain-basement price.
In 2007, Credit Suisse shares CSGN CS fetched as much nearly 88 Swiss francs . Today, they’re trading at about 80 cents. The annual general meeting, the first held in person in four years because of the COVID-19 pandemic, takes place at a Zurich hockey arena where notables like former U.S. President Barack Obama and rapper Post Malone are scheduled to headline later this month.
The Swiss federal prosecutor’s office on Monday announced it has opened a probe into events surrounding Credit Suisse ahead of the UBS takeover. Some analysts, however, said the meeting may not be as well attended as usual because the takeover isn’t on the agenda.