© Reuters. FILE PHOTO: Chairman of the Board of Administrators of Credit score Suisse, Axel Lehmann, attends a information convention after UBS’s takeover supply, in Bern, Switzerland, March 19, 2023. REUTERS/Denis Balibouse/File Picture
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(Reuters) – Norges Financial institution Funding Administration will vote towards the re-election of Credit score Suisse Chair Axel Lehmann and 6 different administrators on the Swiss lender’s annual basic assembly on Tuesday, the Norwegian wealth fund mentioned on its web site.
Credit score Suisse was acquired final month by rival UBS in a $3.23 billion deal engineered by the Swiss authorities, central financial institution and market regulator to keep away from its collapse and potential contagion throughout the worldwide monetary system.
“Shareholders ought to have the fitting to hunt modifications to the board when it doesn’t act of their finest curiosity,” the Norges wealth fund mentioned forward of the April 4 assembly.
Along with Lehmann, Norges can be opposing re-election of Credit score Suisse administrators Iris Bohnet, Christian Gellerstad, Shan Li, Seraina Macia, Richard Meddings and Ana Pessoa.
Credit score Suisse declined to remark and UBS didn’t instantly reply to a request for remark.
