David Herro, whose investment firm Harris Associates was previously Credit Suisse's biggest shareholder, is ditching his entire stake in the Swiss lender as it battles to convince investors and clients that its turnaround strategy will work.

Herro's firm formerly owned some 10% of Credit Suisse's shares and has come out in support of the Swiss lender previously, despite successive crises, strategy shifts and ongoing losses at the bank. However, he has now completely divested from Credit Suisse, according to an interview with the Financial Times.