Page 14 - இங்கிலாந்து நிதி நடத்தை அதிகாரம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) In the midst of his dizzying rise, Hamza Lemssouguer was a prize worth vying for at Credit Suisse Group AG. The firm allowed its 30-year-old trading prodigy to take on high levels of risk to rack up profits in illiquid corners of wild markets. When he turned that hot run into a job at hedge fund Citadel late last year, the Swiss bank promised him his own fund to lure him back. But at the chastened Credit Suisse, which has lurched from one crisis to the next this year, Lemssouguer apparently became a risk too great. The bank on Wednesday canceled plans for the young star’s fund, cutting him loose to pursue his ambition without its money or backing. The episode stands as a marker of the bank’s abrupt change in attitude after embarrassing debacles stemming from Archegos Capital Management and Greensill Capital spiraled into billions of dollars in losses for the firm. “These accidents more than anything showed that Credit Suisse was really stretching to get its returns

United statesCity ofUnited kingdomPablo salameAntonio horta osarioPeter hahnTidjane thiamHamza lemssouguerLowell groupGoldman sachs group incCredit suisse groupCredit suisseGoldman sachsThomas cook group plcUk financial conduct authorityLondon institute of banking