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Credit Suisse Group AG and UBS Group AG are among the banks under scrutiny in a US Justice Department probe into whether financial professionals helped Russian oligarchs evade sanctions, according to people familiar with the matter.
UBS Group AG is emerging as a rare winner in Credit Suisse Group AG’s crisis after a historic, government-brokered deal that contains a raft of financial shock absorbers.
Credit Suisse Group AG isn’t likely to seek more capital and the bank is generally “sound,” according to the chairman of the Swiss lender’s top investor.
The embattled chief executive officer of Credit Suisse Group AG told his staff to focus on facts as he pledged to rapidly move ahead with a plan to streamline operations.
Credit Suisse Group AG is planning a fresh round of job cuts at the global wealth management business starting next week, adding to dismissals that already started at the investment bank, according to people familiar with the matter.