Credit Suisse Group AG CEO Thomas Gottstein signaled he’d consider further separating the asset-management unit from the rest of the bank after the Greensill Capital collapse, as he steps up efforts to limit the reputational damage from the supply-chain finance scandal.
Credit Suisse Group AG raced to contain the widening fallout from the collapse of Greensill Capital as it acknowledged defaults are coming in a $10 billion group of now-frozen funds that the bank touted for their safety.
Former R.J. Reynolds CEO is the latest wealthy investor to lose claim over options strategy managed by a UBS team that went awry and his broker wins claim expungement, but another panel orders UBS to pay $1 million to two clients of a Nebraska broker.
Credit Suisse loses attempt to vacate arbitration decision requiring it to pay more than $400,000 of former brokers’ lawyer fees.
Credit Suisse Group AG is dealing with the fallout of a fraud at its international wealth management business, two years after it was criticized by a regulator in a similar case that rattled the bank and raised questions about controls.
Refuses to vacate arbitration decision requiring Swiss bank to pay deferred comp and damages to pair who joined Morgan Stanley.
Brokers claimed they were “fraudulently induced” to join Credit Suisse months before it shut down its U.S. business are ordered to repay $3.5 million of promissory note balances.
Credit Suisse Group AG is preparing a review of one of its most profitable business lines under new Chief Executive Officer Thomas Gottstein after the coronavirus pummeled markets and a key wealth unit executive departed.
Credit Suisse Group AG ousted Chief Executive Officer Tidjane Thiam to stem a decline in its reputation in the wake of a scandal that unnerved the Swiss establishment, said Chairman Urs Rohner.
Finra and several exchanges say the Swiss bank failed to adequately review potentially manipulative activity by broker-dealers and other institutional clients.
Philipp Wehle, who took over after Khan’s acrimonious split from the lender this year, is carving out a new entity to serve what he thinks could be the most lucrative layer of the wealthy: those who aren’t yet rich enough to need the bespoke services demanded by its billionaire clients.