Former Top Credit Suisse shareholder Sells Full Stake in Bank
A former top shareholder of Credit Suisse, Harris Associates, has sold its entire stake in the bank, according to an article by the Financial Times.
The sale comes after a series of scandals and losses at Credit Suisse, including the Archegos Capital debacle and the Greensill Capital collapse.
Harris Associates had been a major investor in Credit Suisse for over a decade, but reportedly grew frustrated with the bank's lack of progress in improving its operations and risk management.
The sale is seen as a blow to Credit Suisse's reputation and may further undermine investor confidence in the bank.
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