They say all press is positive,

but Credit Suisse has had more

than its share of bad headlines.

Founded in 1856

by industrialist Alfred Escher,

the Swiss bank

grew to become one of the biggest

financial services companies

operating in around 50 countries

across the world.

It came out of the 2008 financial crisis

in a relatively strong position

and did not take any government bailouts.

In the aftermath

the bank cut jobs

as it pivoted away from risky investment

banking to focus on wealth management.

That brought problems

and was

soon pulled into a number of cases

for assisting tax evasion.

We should have caught it.

We should have had managers,

we should have had control people

who caught the fact that this was happening.

But absolutely they were

they were wantonly violating our policies.

Its global presence brought risks, raising $2 billion of

funding for Mozambique's fishing industry

saw Credit Suisse drawn

into a wire fraud criminal probe.

In March 2019

it emerged that Credit

Suisse had hired private investigators

to spy on a former employee

it suspected of taking its clients.

Our shareholders have been extremely robust.

If you look at the share price

its not the share price of a company in crisis.

Two years later came more problems.

The collapse of supply chain financing

company Greensill Capital embroiled the bank.

Swiss regulator

FINMA said

it made partly false

and overly positive statements

when it marketed

$10 billion of funds to clients

as a safe investment.

But soon after came Archegos

Capital Management.

The collapse of Archegos

brought Credit Suisse $5 billion of losses

and saw executives fined.

It's also found itself the first Swiss bank

to receive a criminal conviction

tied to a cocaine smuggler.

Efforts to reassure investors

ran into problems

The outflows basically have stopped.

What we saw is two, three weeks in October...vwooom...

and sustained flattening out,

They have stopped. This gradually coming back,

in particular in Switzerland.

That saw FINMA

open another investigation

when the bank reported

those outflows had continued.

As the bad news came in, losses

mounted and investors became even more wary

Including its biggest,

the Saudi National Bank.

I'm wondering whether you would be

open to assisting further

if there was another call

for additional liquidity from Credit Suisse?

The answer is absolutely not.

For many reasons

outside the simplest reason,

which is regulatory, is statutory.

And those few words were enough

to send Credit Suisse shares

diving to an all time low.

Even a $54 billion lifeline from the Swiss

National Bank could not erase all the losses.

It may have lasted 167 years, but Credit

Suisse will be remembered for this one.