Featured interview: Ethos Foundation CEO Vincent Kaufmann

Published: March 20, 2023, 2:33 p.m.

It was another remarkable weekend in the global banking sector, as Switzerland's biggest bank, UBS, agreed to buy its ailing rival Credit Suisse in an emergency deal worth $3.2 billion. Credit Suisse shareholders will be largely wiped out, although shares will retain a fraction of their value. The same cannot be said of owners of $17 billion worth of additional tier one bonds -- they will lose everything. Joining the show to discuss is Vincent Kaufmann, the CEO of Ethos Foundation, a holder of more than 3% of Credit Suisse stock. Ethos is composed of 246 Swiss pensions and public utility foundations.\xa0\nTo learn more about how CNN protects listener privacy, visit cnn.com/privacy\nLearn more about your ad choices. Visit megaphone.fm/adchoices