Credit Suisse slumped to a CHF2bn ($2.2bn) loss in the fourth quarter as successive crises rocked the Swiss bank in 2021 — capping a torrid year that led to an exodus of talent, a strategic overhaul and a flurry of executive exits.

This was the biggest quarterly loss for the Swiss bank in four years, and Credit Suisse chief executive, Thomas Gottstein warned that it would not be a “quick fix”, while the bank said it will be “adversely affected” by restructuring costs and pressure on pay in 2022 as it kicks of a three-year overhaul.