Credit Suisse's share price dropped to an all-time low, prompting a liquidity lifeline of up to $54 billion from the Swiss National Bank - the first such intervention since the 2008 Global Financial Crisis. Chronic investment banking underperformance, scandals, and risk management failures plagued the bank for years. Credit Suisse is undergoing a major overhaul, with CEO Ulrich Koerner taking over in July 2021, and former Lloyds Banking Group CEO Antonio Horta-Osorio brought in to clean up the bank's culture. However, Horta-Osorio resigned in January 2022 after violating Covid-19 quarantine rules.