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Credit Suisse’s 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, a...

CS Victims Demand Return of Stolen Funds As Credit Suisse Face a Plethora of Scandals News provided by Share this article Share this article GENEVA, April 9, 2021 /PRNewswire/ -- CS Victims, a group of Credit Suisse Wealth Management clients who are victims of an estimated $1 billion fraud perpetrated by the bank's personnel, have demanded the immediate return of funds. At the conclusion of the trial of the Relationship Manager in February 2018, the judgement of the Geneva Criminal Court ordered Credit Suisse to repay more than $120m which had been stolen from the victims' accounts. Despite C...

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 ch...

Credit Suisse’s New Chairman to Decide If a Deal Is the Answer Bloomberg 1 day ago Jan-Henrik Förster, Ruth David and Ambereen Choudhury (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 fa...

In an era of prosperity for investment banks, Credit Suisse Group AG is careening from one crisis to another and then another -- this time, with a $4.7 billion writedown tied to billionaire investor Bill Hwang’s trading blowout. The staggering hit -- the largest yet linked to market-shaking losses run up by Hwang’s Archegos Capital Management -- prompted sweeping management changes at the Swiss bank Tuesday and cast fresh doubt on its checkered record of managing risks. It caps a catalog of costly errors at Credit Suisse -- most recently the collapse of Greensill Capital -- in what was ...