ZURICH: Markets aren't giving Ulrich Koerner what he says he needs most to execute his major overhaul of Credit Suisse Group AG: Time. A day after the chief executive officer (CEO) pleaded for patience, shares of the Swiss lender suffered their worst slump ever and its credit derivatives blew out to levels reminiscent of the financial meltdown of 2008. The rout triggered a global sell-off in risk assets, with European stocks falling the most in a year. Traders pared back bets on a half-point interest-rate increase by the European Central Bank, and the Treasury Department was reviewing the US financial sector's exposure to the Swiss lender.

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