Former Credit Suisse APAC asset management head exiting UBS – sources
By Selena Li and Xie Yu HONG KONG (Reuters) – Former asset management head of Credit Suisse in Asia Pacific, Min Huang, is leaving UBS as the bank embarks on reviewing its…
UBS steps up efforts to recover cash from Credit Suisse defectors – Bloomberg News
(Reuters) – Swiss lender UBS Group AG has stepped up efforts to recoup hundreds of millions in cash bonuses that Credit Suisse paid to retain dealmakers before the lender’s collapse, Bloomberg News…
Credit Suisse reinstates independent reviewer on Nazi account probe
NEW YORK (Reuters) – Credit Suisse has reinstated an independent reviewer to oversee an investigation into the servicing of Nazi clients and Nazi-linked accounts, according to U.S. lawmakers who have probed the…
ECB backs global rules for bonds wiped out in Credit Suisse rescue
FRANKFURT (Reuters) – The European Central Bank’s chief supervisor on Thursday supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse’s rescue by rival UBS earlier…
Swiss National Bank Chairman defends handling of Credit Suisse crisis
By John Revill BERN (Reuters) – Swiss National Bank (SNB) Chairman Thomas Jordan on Wednesday defended the central bank’s handling of the Credit Suisse crisis including handing out emergency cash to the…
Russian court rules that $20.9 million in Credit Suisse assets may be seized
MOSCOW (Reuters) – A Russian appeals court has imposed interim measures against Credit Suisse and ruled that funds totalling $20.9 million held by the Swiss bank in Russia may be seized, court…
UBS cuts nearly 70% Credit Suisse researchers in Hong Kong-sources
HONG KONG (Reuters) – UBS has cut around 70% of the Hong Kong-based staff headcount at Credit Suisse’s securities research unit, two sources with direct knowledge of the matter said, as the…
HSBC hires eight former Credit Suisse bankers to global equities unit
LONDON (Reuters) – HSBC has hired eight former Credit Suisse traders and sales personnel to its global equities business, the bank said in a statement on Tuesday, as it seeks to expand…
EU watchdog scrutinises banks’ defences after SVB, Credit Suisse woes
By Huw Jones LONDON (Reuters) – Most leading euro zone banks have met a January 2024 target for issuing special debt to replenish capital in a crisis, but some need to do…
Swiss post mortem of Credit Suisse crisis to go back to 2015
ZURICH (Reuters) – Switzerland gave a rare glimpse on Friday into so far highly secretive procedures for its inquiry into Credit Suisse’s demise, saying it will examine the actions of state bodies…
Wells Fargo hires Ford from Credit Suisse as head of equity capital markets
NEW YORK (Reuters) – Wells Fargo hired former Credit Suisse banker Jill Ford as its head of equity capital markets, the bank said in a statement. Ford is based in New York and…
Credit Suisse collapse led balance sheet of Swiss banks to contract
(Reuters) – Credit Suisse clients withdrawing their money as the bank headed for collapse likely accounts for the first significant balance sheet contraction in a decade for all banks in Switzerland, a…
UBS sees around 3,000 redundancies integrating Credit Suisse in Switzerland – CEO
ZURICH (Reuters) – UBS expects around 1,000 jobs to go from integrating Credit Suisse’s Swiss business, Credit Suisse (Schweiz), and an additional 2,000 redundancies in Switzerland over the next couple years, Chief…
UBS, Swiss finance blog settle Credit Suisse legacy lawsuit
ZURICH (Reuters) – UBS and Inside Paradeplatz have settled a lawsuit initially brought against the popular Zurich based finance blog by Credit Suisse, the publication said on Tuesday. As part of the…
Credit Suisse posted $4 billion loss in 2Q, Sonntagszeitung reports
BERLIN (Reuters) – Credit Suisse, which is now a subsidiary of UBS, posted a loss of 3.5 billion Swiss francs ($4.0 billion) in the second quarter of 2023, according to a report…
US Senators say Credit Suisse did not review all records when probing Nazi-linked accounts
By Chris Prentice and Brenna Hughes Neghaiwi NEW YORK/ZURICH (Reuters) – Swiss lender Credit Suisse did not review all available records when it conducted an internal probe into the historical servicing of…
Jefferies hires Credit Suisse banker Gegenheimer for tech dealmaking -sources
By Milana Vinn (Reuters) – Jefferies has hired Credit Suisse investment banker Jon Gegenheimer in its latest efforts to boost its U.S. technology dealmaking franchise, according to people familiar with the matter.…
Wells Fargo hires Credit Suisse veteran as head of financial sponsors
(Reuters) – U.S. bank Wells Fargo said on Monday Malcolm Price has joined its corporate and investment bank (CIB) as the head of financial sponsors, after 35 years at Credit Suisse. During…
Winners and losers likely as Switzerland absorbs Credit Suisse layoffs
ZURICH (Reuters) – Switzerland’s financial capital is bracing itself for the biggest wave of job losses in over a decade following Credit Suisse’s collapse earlier this year. Since the government engineered a…
UBS lays off Credit Suisse investment bank staff, closes Houston office -source
By Tatiana Bautzer and Shankar Ramakrishnan NEW YORK (Reuters) – UBS Group is laying off employees from Credit Suisse’s investment bank this week in New York, a source familiar with the situation…
Fed fines UBS $268.5 million for Credit Suisse missteps with Archegos
WASHINGTON (Reuters) – The U.S. Federal Reserve announced Monday it had fined UBS Group AG $268.5 million for Credit Suisse’s misconduct around its dealings with the defunct investment firm Archegos Capital Management.…
Credit Suisse ups S&P 500 year-end forecast to 4,700
NEW YORK (Reuters) – Credit Suisse increased its year-end target on the S&P 500 to 4,700 from 4,050, citing a decline in the near-term U.S. recession risk and a stronger earnings outlook…
Analysis-Takeover benefits: UBS investors warm to Credit Suisse deal
By Oliver Hirt ZURICH (Reuters) – UBS’s emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS…
UBS shelves plan for new China fund unit, takes over Credit Suisse joint venture – sources
By Selena Li and Samuel Shen HONG KONG (Reuters) – UBS has halted plans to set up a new fund unit in China and decided to maintain ownership in a mega fund…
Explainer-Credit Suisse crash investigated by Swiss lawmakers
By John Revill and Tomasz Janowski ZURICH (Reuters) – A rare Swiss parliamentary investigation due to start this week aims to establish what went wrong before the dramatic fall of Credit Suisse,…
Saudi National Bank was denied taking 40% Credit Suisse stake -report
VIENNA (Reuters) – Saudi National Bank wanted to increase its stake in Credit Suisse to around 40% from 9.88%, but was prevented from doing so by Swiss regulator FINMA, Blick newspaper reported…
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