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Credit Suisse has temporarily replaced three executives as it continues to deal with issues related to its supply chain finance funds.
Credit Suisse grappled with the fall-out of Greensill Capital's insolvency on Wednesday, as the head of its European asset management division temporarily stepped aside and it appointed receivers to recover a $140 million loan in Australia.
ZURICH/TOKYO — Credit Suisse faces questions from regulators and insurers as it grapples with the fallout from the collapse of $10 billion worth of funds…
(Bloomberg) -- Credit Suisse Group AG started an internal probe into the collapse of a $10 billion group of supply chain finance funds and temporarily replaced three employees in its asset management unit who were tied to the strategy. The Swiss lender has reached out to external firms to deal with regulators’ queries surrounding the collapse of the funds, which it ran with Australian financier Lex Greensill, people familiar with the matter said, asking for anonymity in discussing internal information. Michel Degen, head of asset management in Switzerland and EMEA, is being replaced in the i...