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Previous Restructuring May Minimise Impact of Credit Suisse Sale on FX Market

  • Traders Looking for Pointers on Euro Prospects Following UBS Acquisition.
  • Swiss Franc Expected to Retain Safe Haven Status.
Friday, 31/03/2023 | 13:23 GMT by Paul Golden
FinTech

US Report: Credit Suisse Aided Rich Clients’ Tax Evasion in Deal Breach

  • The Swiss bank paid $495 million as a settlement to the US regulator last year.
  • Rival UBS recalled the former CEO to oversee the Credit Suisse takeover.
Wednesday, 29/03/2023 | 20:22 GMT by Solomon Oladipupo
Executives

Ex-UBS CEO Is Back after 2 Years to Lead the Credit Suisse Takeover

  • Ermotti replaces Hamers and returns after a two-year break.
  • Hamers embraced the change and wanted to "serve the interests of the new combination."
Wednesday, 29/03/2023 | 06:46 GMT by Damian Chmiel
Institutional FX

German Crisis? Deutsche Bank Shares Plummet amid Spike in Default Insurance

  • The German bank's shares plunged 15 percent on Friday.
  • It came after the bank's credit default swaps jumped higher.
Friday, 24/03/2023 | 11:26 GMT by Arnab Shome
Institutional FX

UBS-Credit Suisse Deal Brings Havoc to Global Markets

  • FINMA decided to write off the $17 billion AT1 bonds of Credit Suisse.
  • Saudi National Bank Lost up to $1.2 billion from the deal.
Monday, 20/03/2023 | 11:05 GMT by Arnab Shome
Institutional FX

UBS Agrees to Buy Troubled Rival Credit Suisse for CHF 3B

  • UBS will pay CHF 3 billion and assume up to $5.4 billion in losses.
  • The deal is expected to close by the end of 2023.
Sunday, 19/03/2023 | 21:52 GMT by FM Contributors
Institutional FX

Swiss Crisis: Credit Suisse Borrows CHF 50B to Escape Liquidity Troubles

  • The bank's shares dipped around 30 percent on Wednesday.
  • Swiss authorities offered the emergency liquidity lifeline to avoid any bank crisis.
Thursday, 16/03/2023 | 06:37 GMT by Arnab Shome
Institutional FX

Credit Suisse Shares Hit Record-Low Once Again and Sparks New Bank Sell-Off

  • Credit Suisse shares hit a record low for the fifth consecutive trading day.
  • It sparked a new sell-off in the European banks.
Wednesday, 15/03/2023 | 11:33 GMT by Damian Chmiel
Institutional FX

Credit Suisse Highlights "Material Weakness" in Delayed Annual Report

  • The lender's shares are testing all-time lows.
  • The collapse of SVB only makes the troubled bank's situation worse.
Tuesday, 14/03/2023 | 10:43 GMT by Damian Chmiel
Institutional FX

Credit Suisse Shares Hit All-Time Low Following Silicon Valley Bank Collapse

  • Big banks' shares are falling after the SVB collapse, confirmed on 10 March 2023.
  • Swiss lender's stock price touched a new record low on Monday morning.
Monday, 13/03/2023 | 10:47 GMT by Damian Chmiel
Institutional FX

Credit Suisse Delays Annual Report and Cuts Investment Banking Jobs

  • CS shares fell after the SEC call forced the lender to delay its report.
  • Additionally, the bank is cutting other investment banking jobs.
Thursday, 09/03/2023 | 12:05 GMT by Damian Chmiel
Institutional FX

FINMA Concludes Proceedings in $10b 'Greensill' Case against Credit Suisse

  • The Swiss regulator investigated the lender's relationship with Lex Greensill and his funds.
  • The funds were launched in 2017 and closed four years later.
Tuesday, 28/02/2023 | 11:26 GMT by Damian Chmiel
Institutional FX

Credit Suisse Reports CHF 7.3 Billion Annual Loss in 2022

  • The banking giant lost 20% of its assets under management.
  • The CEO confirms that current results are “unacceptable.”
Thursday, 09/02/2023 | 11:03 GMT by Damian Chmiel
Executives

Credit Suisse Appoints Aurélien Gleyze as Head of FX Spot for EMEA

  • Gleyze served as the Director and Co-Head of Electronic Macro Trading for over two years.
  • His appointment comes at a time Credit Suisse is reducing its workforce.
Friday, 20/01/2023 | 13:31 GMT by Solomon Oladipupo
Institutional FX

Credit Suisse Starts Job Cuts, Goes after European Investment Bankers

  • Credit Suisse aims to cut 10% of its European investment banking staff, FT reveals.
  • In total, CS wants to reduce its workforce by 9,000.
Monday, 16/01/2023 | 12:17 GMT by Damian Chmiel
Executives

Credit Suisse’s Cathal Deasy Exits European Banking Co-Head Role

  • Giuseppe Monarchi is now the sole Head of IBCM, EMEA.
  • Credit Suisse has seen the departures of several senior executives in recent times.
Tuesday, 03/01/2023 | 15:42 GMT by Solomon Oladipupo
Institutional FX

Credit Suisse Expects to End Q4 with a Loss of $1.58B

  • The bank is undertaking a massive strategic overhaul.
  • It is focusing on reducing its expenses.
Wednesday, 23/11/2022 | 09:15 GMT by Arnab Shome
Institutional FX

Credit Suisse Plans to Raise $4b as a Part of "Radical Restructure"

  • CS wants to raise 1.86 billion CHF from new investors and 2.24 billion from current investors.
  • The bank is trying to resolve problems and controversies for the third time.
Monday, 31/10/2022 | 08:54 GMT by Damian Chmiel
Institutional FX

Credit Suisse Post Heavy Q3 Losses, "Radical Restructure" Needed

  • Swiss bank posts over $4 billion quarterly loss.
  • It has strategic overhaul plans to lay off 9,000 staff and raise billions.
Thursday, 27/10/2022 | 08:05 GMT by Damian Chmiel
Institutional FX

Credit Suisse Agrees to Pay $234m Settlement in France

  • Swiss banking giant settles court case with the French prosecutors.
  • In October, the institution approved settlements worth more than $700 million.
Monday, 24/10/2022 | 10:30 GMT by Damian Chmiel
Institutional FX

Credit Suisse to Pay $495m Settlement Related to 2008 Financial Crisis

  • Settlement is related to the 'Residential Mortgage Backed Securities' part of the business.
  • Credit Suisse, in the past, paid a settlement that was ten times higher for the same misconduct.
Monday, 17/10/2022 | 09:34 GMT by Damian Chmiel
Executive Moves

Credit Suisse Picks Dixit Joshi as CFO

  • He joins the company from Deutsche Bank.
  • Credit Suisse has also named Francesca McDonagh as COO.
Monday, 22/08/2022 | 12:28 GMT by Bilal Jafar
FinTech

Credit Suisse Says ‘Clear No’ to Bank’s Possible Sale or Capital Raise

  • The bank lost $1.6 billion in the second quarter of 2022.
  • The newly-confirmed CEO, Ulrich Körner, to take over on August 1.
Wednesday, 27/07/2022 | 13:27 GMT by Solomon Oladipupo
Executive Moves

Credit Suisse Names Ulrich Körner as CEO; Q2 Losses Deepen to $1.6B

  • The Swiss bank has been reeling from a series of scandals.
  • Körner is currently heading Credit Suisse’s asset management division.
Wednesday, 27/07/2022 | 06:00 GMT by Arnab Shome
Institutional FX

Court Bans Credit Suisse from Disposing of Shares in Russian Units

  • A Moscow court issued the order.
  • The bank cannot dispose of its shares in Bank Credit Suisse and Credit Suisse Securities.
Thursday, 21/07/2022 | 21:25 GMT by Felipe Erazo
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