Brady’s turn

Oswald Gruebel hasn’t risked overstaying his welcome at Credit Suisse. At 63, investors had thought the Swiss bank’s chief executive had a bit more tread left in his tyres. He had appeared more likely to step down next year. But leaving now may benefit both himself and the bank. Gruebel gets to go out on a high. The group’s 2006 earnings were, at SFr8.3bn, at a record high even excluding one-offs like the Winterthur sale. Gruebel is also quitting after a particularly strong quarter. At an underl...