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Credit Suisse May Let Fund Clients Take Hit on Greensill Losses

(Bloomberg) Credit Suisse Group AG is leaning toward letting clients foot the bill for eventual losses in funds that the bank ran with former billionaire Lex Greensill’s company, according to a person familiar with the matter. The bank considers that the risks around Greensill were known and the funds were only marketed to investors able to assess such risks, the person said, declining to be identified discussing private matters. The Zurich-based lender didn’t take any substantial loss due to Greensill in the first quarter. The bank’s stance runs counter to reports last month suggesting executives were considering compensating investors hit by the collapse of the funds. Credit Suisse marketed its popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in a matter of weeks. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through G

Lex greensillBloomberg credit suisse groupCredit suisseGreensill capitalSuisse takesArchegos hitCuts dividendArchegos capital managementBusiness generalப்ளூம்பெர்க் கடன் ஸ்யூயி குழுகடன் ஸ்யூயிஸ்யூயி எடுக்கும்வெட்டுக்கள் ஈவுத்தொகைவணிக ஜநரல்

Credit Suisse Weighs Replacing Risk Chief in Looming Executive Shake Up

Credit Suisse Weighs Replacing Risk Chief in Looming Executive Shake-Up This content was published on April 4, 2021 - 23:01 April 4, 2021 - 23:01 (Bloomberg) Credit Suisse Group AG leaders are discussing replacing chief risk officer Lara Warner while sparing Chief Executive Officer Thomas Gottstein as they tally losses that could reach into the billions from the collapse of Archegos Capital Management, according to people briefed on the matter. The bank is set to give investors an update on the Archegos fallout, including the fate of top executives such as investment bank chief Brian Chin, two of the people said. They also said the Swiss firm is planning a review of its prime brokerage business, which is housed in the investment bank.

David herroLex greensillThomas gottsteinJohn dabbsAntonio horta osorioRyan nelsonBrian chinPaul galiettoTidjane thiamUrs rohnerLara warnerUk lloyd banking group plcHarris associatesJpmorgan chase coBloomberg credit suisse groupLloyds banking group plc

Credit Suisse s Chin to Depart Following Archegos Fiasco

(Bloomberg) Credit Suisse Group AG’s investment bank chief, Brian Chin, is set to leave as part of a wider shakeup at the Zurich-based lender that was hard-hit by the collapse of Archegos Capital Management. Chin’s exit will be announced as soon as Tuesday, according to people familiar with the matter who asked not to be identified because the moves haven’t been made public. The bank’s leaders are also discussing replacing Chief Risk Officer Lara Warner while sparing Chief Executive Officer Thomas Gottstein as they tally Archegos-related losses that could reach into the billions. Warner is set to leave the firm, Financial Times reported. Archegos, a U.S. hedge fund that defaulted on margin calls, could account for losses at Credit Suisse that run into the billions, according to people with knowledge of the matter. The firm has acknowledged the losses will be significant, and is set to give investors an update this week. Reuters reported the update will come Tuesday. The firm

Brian chinTidjane thiamLara warnerThomas gottsteinBloomberg credit suisse groupCredit suisseArchegos capitalChief risk officer lara warnerChief executive officer thomas gottsteinGreensill capitalBusiness generalபிரையன் கன்னம்லாரா எச்சரிக்கைதாமஸ் கோதிட்சிதேன்ப்ளூம்பெர்க் கடன் ஸ்யூயி குழுகடன் ஸ்யூயி

Credit Suisse s Chin to Depart Following Archegos Fiasco

Credit Suisse s Chin to Depart Following Archegos Fiasco
swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.

Brian chinTidjane thiamLara warnerThomas gottsteinViacomcbs incBloomberg credit suisse groupCredit suisseVipshop holdings ltdFarfetch ltdArchegos capitalChief risk officer lara warnerChief executive officer thomas gottsteinFinancial timesGreensill capitalVipshop holdingsBill hwang

Credit Suisse Executives Under Scrutiny for Serial Miscues

Credit Suisse Executives Under Scrutiny for Serial Miscues
swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.

David herroLex greensillThomas gottsteinJohn dabbsAntonio horta osorioRyan nelsonBrian chinPaul galiettoEric varvelTidjane thiamUrs rohnerLara warnerUk lloyd banking group plcHarris associatesBloomberg credit suisse groupLloyds banking group plc