Looking to this quarter, the CEO said that nerves over political uncertainty due primarily to the French election has impacted the strength of market appetite.
"In terms of wealth management, net new assets (NNA) has remained strong in April, so we've seen those trends continue. For the rest of the market we will be quite cautious because April was very much impacted as we saw on Monday," Thiam explained, highlighting the buoyant trader reaction to independent centrist Emmanuel Macron, securing the highest level of votes in the first round of the election.
"All markets were impacted in terms of level of activity in April," he added.
Looking further ahead, the CEO noted that client confidence has been strongly boosted by Sunday's result.
"What we see is really much more confidence in clients. The outcome that was feared at some point – a Melenchon-Le Pen second-round…the relief from not having seen that has really helped sentiment a lot."
Credit Suisse's leadership team is gearing up for its annual shareholder meeting later this week with a proposal for the bank's bosses to have their bonuses slashed by 40 percent on the table.
Thiam said the measure was being taken to ensure management could be left alone to focus on their jobs and that the proposal was being pursued, "willingly, without pressure from anybody because we hope that it will allow people to move on."
Investors had been awaiting further news on Credit Suisse's funding plans with concerns in the wake of Deutsche Bank's 8 billion euro capital raise in February that the bank would announce a similar large-scale raise weighing on its share price in recent weeks.
Credit Suisse also unveiled a proposal to switch to an all-cash dividend in the future.
The bank's shares opened around a third of a percent lower before trading up around 1.37 percent by 09:10 a.m. local time.
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