Hints and tips:
...Santander has agreed to hire the former co-head of Credit Suisse’s investment bank, David Miller, who becomes the latest executive to join from the collapsed Swiss lender....
...It was enough to drag down shares of other French lenders, with Société Générale and Crédit Agricole sliding 3 per cent and 2 per cent respectively....
...Santander has set aside $250mn to grow its corporate and investment bank over the next two years and has already hired 100 executives this year, with many former Credit Suisse bankers joining its US office...
...Credit Suisse and Santander declined to comment. Hermer and Price declined to comment through a Credit Suisse spokesperson....
...UniCredit, Crédit Agricole and Barclays are among the European banks with “call” dates this year....
...Crédit Agricole had in 2018 entered a partnership with German payments company Wirecard, which it paused amid concerns around the now-collapsed group’s accounting....
...Crédit Agricole, Atos, Attestor and the French bank lenders declined to comment. Crédit Agricole’s stance was first reported by online publication L’Informé....
...Crédit Agricole’s main competitor in the mortgage market is BPCE, which is behind retail brands like Banque Populaire....
...CACEIS, meanwhile, is a custody and asset servicing business jointly owned by European banks Crédit Agricole and Santander and was the longtime custodian of H2O’s funds....
...at Credit Suisse....
...This phenomenon is expected to ease by next year as the usury rate goes up but will still spell short-term pain for other French banks such as Crédit Agricole and Société Générale....
...For comparison’s sake, the committee has fielded only five questions about Credit Suisse AG, which no longer exists independently. Casino still exists, of course....
...Credit Suisse’s former co-head of global banking David Wah has joined PJT Partners as a partner in San Francisco....
...RBC has revamped its European credit team, tapping Bank of America’s Georgio Gregoriou, Credit Suisse’s Marc Sánchez Roger and company insider Andrea Marcheggiano for senior roles....
...Total contract awards might surpass €20bn this year, thinks Credit Suisse, up from €8bn in 2022. The bank forecasts a 25 per cent deficit in cable capacity by 2026....
...Saudi National Bank, the country’s largest lender, acquired a 9.9 per cent stake in Credit Suisse late last year and inadvertently helped precipitate the bank’s downfall when the SNB chair ruled out increasing...
...Suisse by its Swiss rival UBS....
...That compares to 9 per cent at larger peers Crédit Agricole and 7 per cent at BNP Paribas, the least geared towards household loans....
...Agricole is the biggest retail bank....
...Apollo has built or acquired more than a dozen platforms to originate loans, including the former securitised products unit of Credit Suisse, once a crown jewel of the Swiss bank....
...Casino and Naouri’s lenders, which include BNP Paribas and Crédit Agricole, will also have sway over the final outcome, while secured and unsecured creditors include multiple US and European hedge funds....
...The Decaux family, which owns the eponymous outdoor advertising business, was brought in as a white knight, and its investment vehicle JCDecaux Holding bought the Crédit Agricole stake in June 2017....
...Dear reader, Credit Suisse has lately resembled the masterwork of Swiss artistic eccentric Jean Tinguely....
...That was also before banking failures in the US, such as tech lender SVB, which spooked bank investors, soon followed in Switzerland by UBS’s takeover of Credit Suisse....
...told to step back from government work (FT) Santander targets dozens more Credit Suisse hires in M&A push (Bloomberg)....
International Edition