Page 33 - Urs Rohner News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Credit Suisse ousts top execs and scraps bonuses amid Archegos and Greensill fallout ‘Serious lessons will be learned,’ says CEO Thomas Gottstein Credit Suisse has ousted two senior bosses and scrapped bonuses for its remaining executives as it takes drastic measures to come back from the blow-ups of Archegos Capital Management and Greensill Capital which are set to cost the investment bank billions of pounds. Chief risk and compliance officer Lara Warner will relinquish her role effective immediately, while investment bank CEO Brian Chin will step down from the executive board by ...

Credit Suisse Faces $4.7 Billion Loss in Wake of Archegos Capital Scandal 3 hours ago by John Kiguru · 3 min read Photo: Depositphotos You have successfully joined our subscriber list. Credit Suisse has revealed it expects a huge loss in Q1 of 2021. The Zurich-based lender was one of the highest hit firms following the Archegos Capital fund saga. It has since proposed a cut to its dividend and seen several executives depart. Archegos Capital Fund has been the centre of attention for the last couple of days. The family office of former Tiger Asia manager Bill Hwang has seen several banks t...

The hits keep coming for investment banking giant Credit Suisse.   The firm announced Tuesday that it expects to take a CHF 4.4 billion (USD $4.7 billion) writedown following losses related to family office Archegos Capital Management’s failure to meet its margin requirements.   Executives are stepping down, and the firm has launched two investigations: one into Archegos, and another into Credit Suisse’s purchase of Greensill Capital’s supply chain debt. Thomas Gottstein, chief executive officer of the firm, called the losses tied to Archegos “unacceptable.”   In 2020, the fir...

Credit Suisse in a $4.7 Billion Bind Thanks to Hwang’s Leveraged Bets Even the world’s biggest banks have difficulty keeping track of risks involved with financial innovations like CFDs. Last updated on April 06, 2021 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions. After “The Big Short” movie, followed by Netflix and HBO Max announcements for two movies on the GameStop saga, another contender enters the fray. “Bill” Hwang is likely to be immortalized as the most...

Tossing a few executives overboard won’t suffice for scandal-ridden Credit Suisse. The twin collapses of clients Archegos Capital Management and Greensill Capital must lead to deeper soul-searching at the Swiss bank. Restructuring and disposals may be necessary.