Blockbuster 2021 reels in Global investment banking for the recovery year
The pandemic was devastating to major economies, there is no mistaking that. Markets saw it strike first-hand as the stock prices plummeted devastatingly low and the revenue at global investment banks was more slow than gradual, all routes clogged due to the gravity of the situation. Apart from that event spanning through countless economic shattering, […]
Shares of European banks plummet after Credit Suisse spikes a financial loss caution
Investors in Europe fear drought and regret as Credit Suisse alerts to a dreadful 6% slide, ensuing later is a warning issued on unstable financial assets dropping on the lenders. Interestingly, the European Central Bank has called for a meeting on Thursday to aid the investors in their wager, with the U.S Federal Reserve scheduled […]
Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules
Lawmakers blocked a bid to overhaul strict Swiss banking secrecy rules in a blow to freedom of information advocates seeking an exemption for journalists and whistleblowers. Switzerland has been under fire over its press freedom rules after a law introduced in 2015 led a leading media group, Tamedia, to bow out from an international investigation […]
Credit Suisse denies wrong doing
Credit Suisse said that it strongly rejects allegations of wrongdoing after dozens of media published results of coordinated, Panama Papers-style investigations into a leak of data on thousands of accounts held there in previous decades. A person leaked the information on the accounts ranging from the 1940s to the 2010s to Germany’s Sueddeutsche Zeitung. This […]
Credit Suisse chairman warns temporary inflation talk
Credit Suisse Chairman Antonio Horta-Osorio said that the talking down of speeding inflation as a temporary phenomenon by many central banks poses risks of a more intense monetary adjustment. In Lisbon, he told a banking conference that the markets have been giving a lot of credit to central banks, but the latest indicators are that the temporary […]
$475 MLN to resolve Mozambican scandal by Credit Suisse
Credit Suisse Group AG will pay about $475 million to American and British authorities for resolving the bribery and fraud charges relating to a $2 billion Mozambican corruption scandal. Its subsidiary pleaded guilty to a conspiracy charge in New York, U.S. and UK agencies. The settlement with the U.S. Securities and Exchange Commission (SEC), the […]
Credit Suisse board backs says the CEO
Credit Suisse’s board of directors is convinced that Chief Executive Thomas Gottstein is the right person to strategically realign the bank. This realignment can be done by curbing risk appetite, said the Swiss bank‘s chairman in a newspaper interview. When he was asked whether he was planning to replace Gottstein as CEO or take over the operational lead […]
Deutsche Bank snapped by Credit Suisse
According to a memo, the Credit Suisse has poached Deutsche Bank‘s Israel Fernandez to lead its financial institutions group (FIG) in Europe, the Middle East and Africa in tandem with Julien Lamm. Fernandez on Nov. 15 is taking his new role. Just like his predecessor Armando Rubio-Alvarez, he will be based in Madrid. He is a […]
How Credit Suisse ignored Archegos warnings
Weeks before Archegos collapsed, Credit Suisse received what would turn out to be one of its final warnings from a junior analyst about the hedge fund’s impending disaster. Just as with earlier red flags, stretching back years, it was ignored. The risk analyst told a colleague in the department dealing with investment fund Archegos to […]
Credit Suisse prepares insurance claims on Greensill Capital losses
Swiss bank Credit Suisse has prepared its first insurance claims. This is after its losses on stemming from its $10 billion of funds which tied to collapsed finance group Greensill Capital. This news has been reported by the Financial Times. Credit Suisse is now greatly attempting to recoup billions of dollars which is owed to […]