Credit Suisse Chairman Apologizes for Bank's Demise at Final Shareholder Meeting.

Credit Suisse's chairman, Axel Lehmann, apologized for the bank's collapse at its final shareholder meeting, as UBS's takeover wiped out shareholders. The 167-year-old bank was founded by Swiss magnate Alfred Escher, but after years of scandal and losses, it came to the brink of collapse before UBS rode to the rescue with a merger engineered and bankrolled by the Swiss authorities. Shareholders and protesters criticized the deal, and shareholder advisory firm Ethos decried the "greed and incompetence of its managers" as well as pay that reached "unimaginable heights".