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Credit Suisse : Swiss watchdog asked Credit Suisse on Greensill risks -SonntagsZeitung


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ZURICH (Reuters) - The head of Switzerland s financial regulator FINMA questioned Credit Suisse Group AG over risks in its dealings with now-insolvent finance firm Greensill Capital months before the bank was forced to close $10 billion of funds linked to Greensill, Swiss newspaper SonntagsZeitung reported on Sunday.
Alongside formal discussions on a technical level between the bank and FINMA, the watchdog s head Mark Branson personally discussed the risks with outgoing Credit Suisse Chairman Urs Rohner and Chief Executive Thomas Gottstein during a meeting on an unspecified date, the newspaper reported, citing information it had obtained.
FINMA and Credit Suisse declined to comment to Reuters. ....

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Credit Suisse overhauls management as it takes $4.7 billion hit on Archegos


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ZURICH (Reuters) -Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk division.
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann
The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is also suspending its share buyback plans and cutting its dividend by two thirds.
Switzerland’s No. 2 bank, which has dumped over $2 billion worth of stock to end exposure to Archegos, said Chief Risk Officer Lara Warner and Brian Chin, the bank’s investment banking head, were stepping down following the losses. ....

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Credit Suisse to reveal losses from Archegos; 2 execs to depart -sources


Credit Suisse to reveal losses from Archegos; 2 execs to depart -sources
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Credit Suisse to reveal losses from Archegos; 2 execs to depart -sources
Credit Suisse will announce the departure of two senior executives and detail how much it expects to lose through its exposure to family office Archegos in an investor update Tuesday, sources familiar with the matter said.
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann
06 Apr 2021 06:30AM
(Updated:
06 Apr 2021 11:00AM)
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NEW YORK -Credit Suisse Group AG will on Tuesday detail losses from its relationship with Archegos Capital Management LP after dumping over US$2 billion worth of stock to end exposure to the troubled investor, two sources familiar with the matter said. ....

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