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New Credit Suisse chairman buys $1.2 mln worth of stock

Kitco News

New Credit Suisse (CSGN.S) Chairman Antonio Horta-Osorio has bought 1.1 million Swiss francs ($1.2 million) worth of shares in the group as he sets out to restore order to Switzerland's second-biggest bank.

A Swiss regulatory filing this week showed an unidentified member of the bank's board of directors had made the purchase. A spokesman confirmed it was Horta-Osorio, who was approved by Credit Suisse shareholders as chairman on Friday.

The former Lloyds (LLOY.L) chief executive said last week he intends to look at the bank's risk management and culture in the wake of two major crises, as well as reviewing the bank's strategic options. read more

($1 = 0.9146 Swiss francs)

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