Credit Suisse Special Audit Backed by Norway’s Wealth Fund
- Investor joins call for more transparency in Greensill debacle
- Fund will also vote against discharge for 2020 fiscal year
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A top Credit Suisse Group AG investor is supporting a proposal for a special audit over the collapse of a group of supply chain finance funds the bank ran with now-defunct Greensill Capital.
Norway’s sovereign wealth fund, one of the largest shareholders in Credit Suisse, said it will back the call for more transparency by the Ethos Foundation and seven Swiss pension funds at the annual shareholder meeting. The bank has so far refused to publish an internal report on the funds, which had about $10 billion in assets when they were frozen more than a year ago.