ZURICH, March 31 (Reuters) - Credit Suisse’s chairman said on Thursday there are no blind spots in the bank’s trading operations, a week after its chief executive said he had been unaware of the scale of positions that triggered major writedowns.
“There were no blind spots. It’s not the case that positions suddenly surfaced that were not previously there,” Urs Rohner told a Swiss banking conference.
“The positions we have, we know. The question is then how certain positions are valued at a certain time and when positions are managed and traded.”
Asked last week who would be held responsible for about $1 billion in losses on its illiquid credit portfolio over the past two quarters, Chief Executive Tidjane Thiam said things had clearly gone wrong but the bank was now confident the problems had been identified.
Reporting by Joshua Franklin and Oliver Hirt; Editing by Michael Shields