The importance of governance (G) has perhaps been somewhat sidelined in recent years in favour of the environment (E) and, to a lesser extent, social issues (S), which have regained importance with Covid. However, the example of Credit Suisse shows why good governance is essential to a company's success and longevity. In this case, the bank has been doing everything wrong for a good fifteen years: corporate culture, risk management, risk incentives (with exorbitant variable remuneration systems), poor supervision by the board of directors, etc.
Journalist Mathilde Farine has written a reference book on the downfall of Crédit Suisse. For this expert, one of the main causes of this economic tragedy is that the bankers took far too many risks by accumulating errors, driven by greed.