City Archego Financial News
04.10 / 19:49
COST
Exodus
Credit Suisse’s debt drama worsens banker exodus: ‘Turnover is awful’
When Jens Welter’s departure from Credit Suisse was announced to staff on 27 September, there was a sense of shock among colleagues in London.
13.07 / 12:27
20.06 / 07:25
Landmark
UBS
UBS faces millions in penalties over Credit Suisse’s $5.5bn Archegos debacle
Credit Suisse’s relationship with family office Archegos Capital is set to hit UBS following investigations by UK, Swiss and US regulators.
28.02 / 10:47
Lowe's
Maxim
CEO
Action
Swiss
Credit Suisse 'seriously breached' obligations in Greensill case, Swiss regulator says
Credit Suisse «seriously breached its supervisory obligations» in the context of its business relationship with financier Lex Greensill and his companies, Swiss regulator FINMA concluded Tuesday.
28.06 / 10:23
COST
Progressive
CEO
Scandals
Credit Suisse vows to overhaul its risk management after a litany of scandals
Credit Suisse has vowed to forge ahead with its risk management and compliance overhaul in light of a string of scandals, despite what its CEO called a «challenging» environment.
10.02 / 10:01
Exodus
Credit Suisse slumps to CHF1.6bn loss after torrid year
Credit Suisse slumped to a CHF1.6bn net loss for 2021 as successive crises rocked the Swiss bank — a torrid year that to an exodus of talent, a strategic overhaul and a flurry of executive exits.
18.01 / 19:27
UPS
UBS
analysts
reputation
Credit Suisse needs to salvage reputation after chairman quits in latest scandal, analysts say
LONDON — Credit Suisse Chairman Antonio Horta-Osorio resigned on Sunday after violating Covid-19 quarantine rules, the latest in a series of high-profile scandals that have rocked the Swiss bank in recent years.
13.12 / 10:56
UPS
Credit Suisse hires new wealth management chief, shakes up board
Credit Suisse has hired a new chief executive of its wealth management division in a flurry of new board appointments as the Swiss bank continues to shake-up its senior ranks in the wake of the twin crises of Archegos Capital and Greensill.
25.11 / 03:11
Barclays expands prime broking as rivals pull back after Archegos
Barclays is making a fresh push into prime broking after rivals retreated in the wake of steep losses from the collapse of family office Archegos Capital.
12.11 / 03:11
Racing
Exodus
Credit Suisse kicks off ‘very aggressive’ hiring spree after Archegos exodus
Credit Suisse has hired or promoted 45 senior dealmakers in key markets this year, as the Swiss bank has raced to replenish its investment bank after a spate of departures in the wake of the Archegos crisis.
10.11 / 20:09
COST
Credit Suisse’s legal troubles are dragging on its plans to rebuild
Credit Suisse is vowing to end reckless risk taking at the bank. The cost of earlier misdeeds are likely to keep biting back for years, weighing on efforts to put the past behind it.
04.11 / 15:07
expansion
Why Credit Suisse’s investment bank retreat looks more like an expansion
Credit Suisse’s overhaul of its investment bank was expected to be a radical shift of the business. Instead, simply lops off the source of its recent woes.
04.11 / 09:19
Strategy
Credit Suisse shutters prime broking after $5.5bn Archegos hit in pivot towards wealth management
Credit Suisse is quitting prime broking and cutting the capital allocated to its investment bank by $3bn — or 25% — under a strategy shift unveiled by chairman António Horta-Osório after a series of scandals at the bank.
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