Michael Sprung s Top Picks: April 21, 2021
Treasury-buying apree of US$17 billion has UAE eclipsing China
James Telfser s Top Picks: April 20, 2021
Morgan Stanley joins bank bond bonanza with three-part sale
John Zechner s Top Picks: April 19, 2021
Teslaâs fiery crash adds to drag on already wobbly EV stocks
An ether ETF isn t even launched and already there is a fee war
Tech leads stock drop from record; dollar falls
Wall Street canât stop smashing records while pandemic lingers
Greg Newman s Top Picks: April 16, 2021
Family offices are targeting 800% returns with SPAC economics
Ark Invest s Cathie Wood thinks Shopify could be next Amazon
Christine Poole s Top Picks: April 15, 2021
Credit Suisse s New Chair Horta-Osorio Faces Toughest Crisis Yet
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Top UK Banks Stage Significant Recovery as Markets Eye Sharp Upturn
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Credit Suisseâs New Chairman to Decide If a Deal Is the Answer
This content was published on April 10, 2021 - 07:54
April 10, 2021 - 07:54
(Bloomberg) The damage control work at Credit Suisse Group AG from a pair of disasters that stunned the banking world will soon give way to the question of how the 165-year-old institution will rehabilitate its business and reputation.
A new chairman, Lloyds Banking Group Plc chief Antonio Horta-Osorio, arrives in three weeks, to begin the search for answers after the fiascoes involving Archegos Capital Management, a New York-based family office, and supply-chain lender Greensill Capital, which have already wiped out more than a year of profits.
Credit Suisse Plans Hedge Fund Unit Overhaul After Archegos Hit
This content was published on April 9, 2021 - 11:16
April 9, 2021 - 11:16
(Bloomberg) Credit Suisse Group AG is planning a sweeping overhaul of the hedge fund business at the center of the Archegos Capital blow up, as the drama forces Wall Street banks to reconsider how they finance some of their most lucrative clients.
The Swiss bank is weighing significant cuts to its prime brokerage arm in coming months, people familiar with the plan said. The lender has already moved to tighten financing terms with some funds, and hopes changes to the unit can allow it to forgo major cuts to other parts of the investment bank, which just had a banner quarter, the people said, asking not to be identified as the matter is private.