Credit Suisse boss faces revolt from bankers
Tidjane Thiam's strategy shift towards emerging markets and disdain for once-core businesses have made many of the financial giant's well-compensated deal-makers unhappy
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New York
WHEN Tidjane Thiam took over at Credit Suisse last July, he laid out a new direction for a financial giant with a storied investment banking history: do less investment banking.
And he used forceful language in doing so. He has referred to once-core businesses - such as trading in distressed bonds and derivatives - as "ugly ducklings". He has suggested publicly that traders ramped up their investments in risky debt without his knowledge.
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