Credit Suisse Tries to Turn the Page—Again

Credit Suisse is still struggling to get its house in order. A new leader will help, but the job is getting harder.

The crisis-prone bank named a new chief executive officer and strategy on Wednesday, alongside dismal second-quarter results. The change isn’t surprising after its recent string of quarterly losses, profit warnings and senior personnel changes. The board will be more involved, and the incoming CEO brings useful experience, but previous efforts have been disappointing and the macroeconomic backdrop isn’t ideal for a turnaround.