(Bloomberg) -- Chief Executive Officer Tidjane Thiam, seeking to reassure investors about his ability to turn around Credit Suisse, pledged to continue efforts to cut costs and steer the bank away from risky activities.

"The first quarter of 2016 has seen a continuation of some of the negative pressures experienced" last year, Thiam told shareholders in Zurich on Friday. "January and February were simply two of the worst months ever in international markets. As a result, we decided to accelerate our strategy of right-sizing and de-risking our market activities."

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