she's been speaking to brady dugan this morning and jones us for more. we thought we could get beyond everything, carolyn. how long, how long do we have to wait? >> that's a difficult question. i put that question to brady dug then morning. he says, yes, we're still waiting for a settlement with the boj. he says the ball is in their court. this has been going on for three years now. we're hoping to get resolution to this tax investigation, sometime later this year. they've set aside 800 million swiss franks, dollars rather to deal with those issues. is a settlement near? that is the big question. i really didn't get a concrete answer from brady dugan this morning. let's get back to the actual numbers. you mention the share price reaction down 2%. that would be a bit of a surprise to some of the brokers out there. goldman sachs expected the stock to react positively. in their note this morning, they point out credit suisse showing strength in the right places meaning the private bank net new money inflows of 11 billion swiss frankcs. they believe that the

jonathan ferro will bring us more from the first interview .ith brady dugan take it away. >> i thinkthe numbers. we were looking for net income to come around. 59.ame in at eight point investment banking is lower. down on the year. that's a concern for a lot of people. on should the banks focus on private banking and wealth management. that was the question i put two brady dougan himself. this is what he had to say. >> i think it's a strong quarter. 1.9 billion in pretax. that was a 14% return on equity. it's going to be one of the best in the industry. you saw in our investment bank as well. we had a strong return on capital of 21%. a lot of the businesses performed extremely well. >> i think it's fair to say he was in a bullish mood. he showed no sign of reining in the investment bank. for him it's a profitable business and one it will keep going for. >> what did he have to say about ongoing probes? >> i think this is where the big question is. are set with the fcc. just when you think they are making progress they set-aside provisions of around one billion dollars right now. the q

the ceo brady dugan has been given a big pay raise for 2015. >>> the fbi has reportedly opened a criminalrobe into the $400 million fraud involving citigroup's mexican unit. in february, it was disclosed it discovered loans and says banamex may have been in on the crime. citigroup stock flat in frankfurt. >>> a u.s. judge has dismissed a lawsuit against tremont holdings. the suit accused tremont of investing $3.3 billion with madoff for more than a decade without investigating red flags, but he never bought securities. tremont has secured claims with other investors in a class action suit based on the same allegation. >>> and the new french finance minister michelle sapin says timing of the deficit payment is up for discussion. stephane has the latest for us out of paris. what do you think he means by that? >> it's not a formal request, but at least it's on the table, ross, after this comment made to the radio station. they say france will maintain its deficit reduction target, but the timing will be discussed, clearly, suggesting that another delay could be an option that france would re

this is brady dugan's answer -- >> equities, the investment banking business is quite good.art of it, made a 21% return on capital. so that's actually a very strong return in the first quarter. you know, we had actually some good performances. >> the coo of credit suisse talking to cnbc's team in zurich. back to you guys. >> all right, simon hobbs, thank you so much. enjoy your vacation. >> i will. thank you for remembering. >>> let's get to the cme group in chicago. rick santelli with the "santelli exchange." hey, rick. >> thanks, carl. i tell you what, i'm a lucky guy, because i get to be very fluid. i'd like to respond to some of the issues that were very succinctly brought up by simon hobbs. it goes right along with what i'm talking about. central bankers, used to be a time they were nudgers, but truly disrupters now. as simon adequately points out, 5 and 10-year yields in spain, in italy are getting very -- the 10-year getting very close to 3%. but it isn't like in the u.s. where rates are moving down necessarily for not a dazzling economy or for a variety of other reas