Roche loses money in Russia, says Chief Executive Severin Schwan

The bank was now in "good hands" under new Chairman Axel Lehmann, the outgoing vice-chair said.

Asked whether larger Swiss rival UBS or a foreign bank might take over Credit Suisse since its share price had been battered, Schwan said he hoped the bank would remain independent.

"It would be a huge loss for Switzerland if there were only one major Swiss bank. That's why it's important that CS stabilises its business, rebuilds trust and seizes its opportunities," he said.

He said he would be willing to take on another board role in the future.

"In principle, I think it is feasible to sit on the board of a bank alongside my job as CEO at Roche," he said.

"The fact that I'm stepping down now doesn't mean that I don't think it's important for an active CEO to take on such a task. We need banks, they are like the oil in the gears. And for some things we need specifically Swiss banks."

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