This week the Swiss bank agreed to a $2.5 billion settlement with the U.S. authorities over charges that it helped Americans evade taxes by hiding their assets in secret bank accounts.
While the bank's board has backed the Dougan, that matters little in Switzerland where over 78% of newspaper Tages-Anzeiger's readers felt both Dougan and his boss, chairman Urs Rohner, should step down, according to Reuters.
TheStreet Ratings team rates CREDIT SUISSE GROUP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CREDIT SUISSE GROUP (CS) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself."