Harris Associates backs Credit Suisse handling of governance

FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Zurich

ZURICH (Reuters) – Credit Suisse shareholder Harris Associates backed the Swiss bank’s handling of any potential conflicts of interest for Michael Klein, then board member, and director Blythe Masters when it implemented a sweeping overhaul last month.

“We believe they have properly dealt with situations where there have been conflicts,” Deputy Chairman David Herro said in an emailed comment.

Reuters earlier reported the bank’s recent decision to exit certain investment banking activities is drawing scrutiny from at least two investors and a proxy adviser worried about how Credit Suisse managed potential conflicts of interest.

(Reporting by Oliver Hirt, writing by Michael Shields, Editing by Elisa Martinuzzi)