Credit Suisse CEO blasts ‘really stupid’ takeover rumor
Not Credit Suisse’s Thomas Gottstein.
When asked at a Goldman Sachs conference Thursday about chatter circulating on Wall Street regarding a possible acquisition of Credit Suisse by the big American bank State Street, Gottstein replied more succinctly.
“As you would expect, we never comment on rumors,” Gottstein said. “And my father once gave me advice: for really stupid questions, you better don’t comment at all. So I think I will listen to my father’s advice.”
State Street’s stock also has plunged about 25% this year, as market volatility is hurting its massive exchange-traded fund business. State Street’s asset management unit is the sponsor for the popular SPDR family of ETFs.