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(Bloomberg) Credit Suisse Group AG signaled a strong start to the year as clients trade and invest more, providing relief to Chief Executive Officer Thomas Gottstein after a first year marred by a series of legacy issues. Switzerland’s No. 2 bank on Thursday posted its first quarterly loss in three years in an uneven quarter that saw it write down a hedge fund investment and set aside money for U.S. litigation. While its traders trailed Wall Street peers for a second straight quarter, equity-underwriting fees more than tripled and loan-loss provisions were less than forecast, helping to limit the damage. Gottstein has spent his first year cleaning house after taking over in the wake of a damaging spying scandal. He merged the investment banking businesses into a single division and centralized controls after questionable dealings with a top client and missteps in asset management. After a mixed end to the year, Credit Suisse just finished its strongest January in a decade, Chief Fi
(Bloomberg) Credit Suisse Group AG signaled a strong start to the year as clients trade and invest more, providing relief to Chief Executive Officer Thomas Gottstein after a first year marred by a series of legacy issues. Switzerland’s No. 2 bank on Thursday posted its first quarterly loss in three years in an uneven quarter that saw it write down a hedge fund investment and set aside money for U.S. litigation. While its traders trailed Wall Street peers for a second straight quarter, equity-underwriting fees more than tripled and loan-loss provisions were less than forecast, helping to limit the damage. Gottstein has spent his first year cleaning house after taking over in the wake of a damaging spying scandal. He merged the investment banking businesses into a single division and centralized controls after questionable dealings with a top client and missteps in asset management. After a mixed end to the year, Credit Suisse just finished its strongest January in a decade, Chief Fi
(Bloomberg) Credit Suisse Group AG signaled a strong start to the year as clients trade and invest more, providing relief to Chief Executive Officer Thomas Gottstein after a first year marred by a series of legacy issues. Switzerland’s No. 2 bank on Thursday posted its first quarterly loss in three years in an uneven quarter that saw it write down a hedge fund investment and set aside money for U.S. litigation. While its traders trailed Wall Street peers for a second straight quarter, equity-underwriting fees more than tripled and loan-loss provisions were less than forecast, helping to limit the damage. Gottstein has spent his first year cleaning house after taking over in the wake of a damaging spying scandal. He merged the investment banking businesses into a single division and centralized controls after questionable dealings with a top client and missteps in asset management. After a mixed end to the year, Credit Suisse just finished its strongest January in a decade, Chief Fi
Credit Suisse Group AG signaled a strong start to the year as clients trade and invest more, providing relief to Chief Executive Officer Thomas Gottstein after a first year marred by a series of legacy issues.