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…
Credit Suisse appoints investment banking management committee -memo
By Tatiana Bautzer NEW YORK (Reuters) – Credit Suisse Group AG on Thursday appointed an investment banking management committee to oversee its integration with UBS Group AG, according to a memo seen…
Exclusive-Credit Suisse seeks to win back clients back with above-market rates
By Vidya Ranganathan and Stefania Spezzati SINGAPORE/LONDON (Reuters) – Credit Suisse, driven into a rescue by UBS after heavy cash outflows, is seeking to claw back business by offering rich clients some…
UBS to start Credit Suisse Asia investment banking job cuts in July -sources
By Kane Wu and Selena Li HONG KONG (Reuters) – UBS will start cutting Asia investment banking jobs at Credit Suisse next month, three people with knowledge of the matter said, as…
Credit Suisse shares close slightly higher on final trading day
ZURICH (Reuters) – Credit Suisse shares closed 1% higher at 0.81 Swiss francs ($0.89) on Monday, their last trading day after the stricken bank’s takeover by Swiss rival UBS. Under the terms…
UBS CEO says about 10% of Credit Suisse staff have left
By Noele Illien and John Revill ZURICH (Reuters) -UBS Chief Executive Sergio Ermotti said on Monday that around 10% of Credit Suisse employees had left before the bank sealed its takeover of…
Factbox-Credit Suisse arrivals and departures after UBS seals takeover
ZURICH (Reuters) – UBS followed up the announcement it had closed the takeover of stricken rival Credit Suisse on Monday with a raft of management changes. Here are the highlights: OUT Leaving…
Explainer-UBS has Swiss mountain to climb with Credit Suisse
By Tomasz Janowski, Oliver Hirt and John Revill ZURICH (Reuters) – With its Credit Suisse takeover officially wrapped up, UBS must now make good on its promise that the government-orchestrated rescue will…
UBS to impose restrictions on Credit Suisse bankers after takeover complete, FT says
(Reuters) – UBS AG is set to impose tight restrictions on Credit Suisse bankers, including a ban on new clients from high-risk countries and on complex financial products, the Financial Times said…
Factbox-UBS, government agree on Credit Suisse loss guarantees – key points
(Reuters) – UBS and the Swiss government agreed on Friday on how they will share losses linked to the bank’s emergency takeover of Credit Suisse, clearing the way for the deal to…
Credit Suisse bankers leaving by the hundreds every week – sources
By Noele Illien and Stefania Spezzati ZURICH (Reuters) – Hundreds of Credit Suisse’s employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over…
Switzerland speeds up work on liquidity backstop after Credit Suisse crash
BERN (Reuters) – The Swiss government on Thursday moved to speed up work on extending a public liquidity backstop Credit Suisse received access to in March under emergency rules to other systemically…
Credit Suisse managers’ 2022 bonuses cancelled or cut by Swiss government
ZURICH (Reuters) – Credit Suisse senior managers will have their outstanding bonus payments for 2022 either cancelled or reduced following an order issued on Tuesday by the Swiss Finance Ministry. The order…
Exclusive – Vietnam’s No Va Land in talks with Credit Suisse, others to restructure debt – source
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) – Vietnamese property giant No Va Land Investment Group Corp is in talks with creditors to restructure part of its $1 billion foreign debt,…
Credit Suisse neared its cash limits days before rescue, filing shows
By Kirstin Ridley and Stefania Spezzati LONDON (Reuters) – Credit Suisse came close to falling below minimum levels of cash held at the Swiss central bank days before its forced takeover by…
Exclusive-Qatar fund explored claims against Switzerland for Credit Suisse losses
By Stefania Spezzati, Paritosh Bansal and America Hernandez (Reuters) – Qatar’s sovereign wealth fund, Credit Suisse’s second-largest investor, has explored seeking redress for losses incurred by the bank’s takeover, two people familiar…
CDS committee accepts to hear question on Credit Suisse AT1 bonds
NEW YORK (Reuters) – The Credit Derivatives Determinations Committee (DC) accepted on Friday to look into a question on whether a “governmental intervention credit event” occurred with respect to Credit Suisse. The…
UBS CEO: Credit Suisse no longer seeing outflows
LUCERNE, Switzerland (Reuters) -UBS Chief Executive Sergio Ermotti said on Friday that the situation at Credit Suisse has stabilized and he did not think outflows at the embattled bank were continuing. Addressing…
Credit Suisse economist Zoltan Pozsar leaves the bank – WSJ
(Reuters) – Zoltan Pozsar, a widely followed Credit Suisse markets guru, has left the bank, part of an exodus of staff that started in the months before the lender’s shotgun takeover by…
Factbox-Lawsuits lodged over state-backed Credit Suisse takeover
(Reuters) – Hundreds of lawsuits have been filed over the terms of the emergency deal to save Credit Suisse by selling it to Swiss banking rival UBS, a Swiss court has said.…
EU antitrust ruling on UBS’ Credit Suisse takeover due by June 7
PARIS (Reuters) – European Union antitrust authorities will decide on UBS’ planned takeover of fellow Swiss bank Credit Suisse by June 7, the European Commission said in a statement. The Commission’s competition…
UBS retains risk chief to bolster controls for Credit Suisse deal
ZURICH (Reuters) -Switzerland’s UBS said on Monday it will retain Christian Bluhm as chief risk officer for the “foreseeable future” as it bolsters controls during the takeover of Credit Suisse. Chief Executive…
Credit Suisse lodges $440 million London claim against SoftBank
LONDON (Reuters) – Credit Suisse has lodged a $440 million claim against Japan’s SoftBank Group Corp in London as it presses ahead with formal proceedings in a dispute borne from the failure…
Swiss government reiterates financial commitment to Credit Suisse deal
ZURICH (Reuters) -The Swiss government said commitments to the Swiss National Bank and UBS to ease the takeover of Credit Suisse will not be affected by parliament’s rejection of 109 billion Swiss…
Credit Suisse hampered internal probe into Nazi-linked accounts, U.S. senators say
By Chris Prentice NEW YORK (Reuters) – A committee of U.S. lawmakers on Tuesday said troubled Swiss bank Credit Suisse Group hampered a multiyear investigation into the servicing of Nazi clients and…
Credit Suisse rescue package rejected by Swiss parliament
ZURICH (Reuters) – Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment,…
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