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...Within weeks, a US regional banking crisis spurred a panic that ultimately contributed to Credit Suisse’s weekend takeover by UBS....
...Finma has argued that without writing down the AT1s, nationalising Credit Suisse would have been the only alternative....
...Successfully traversing such terrain demands forecasting talent, which Ark Investment Management lacks.”...
...Harris Associates was previously one of Credit Suisse’s longest-standing shareholders, owning as much as 10 per cent of the bank’s shares in the year before it collapsed....
...People with knowledge of the decision said the sale had been planned by Credit Suisse’s management team before its rescue by UBS this year....
...Ermotti said the only reason UBS was allowed to take over its rival was because Credit Suisse was failing after years of loss making....
...He is already proving a valuable addition to the Board and management teams.”...
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...business Corinthia Global Management....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...The bank reported $77bn of new assets and another $77bn of new deposits across wealth management and personal banking businesses last year....
...The former head of Credit Suisse’s wealth management business, Francesco de Ferrari, has become the latest executive of the fallen bank to leave UBS....
...UBS put the business up for sale after taking control of Credit Suisse when it collapsed last year. It already has a securities unit in mainland China and cannot hold two licences....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...But one year on from the failures of Silicon Valley Bank and Credit Suisse, the strongest banks are ramping up their lending into the broadly syndicated bank loan markets — a key way to finance leveraged...
...Millennium, which was founded in 1989 by Izzy Englander, has grown to become one of the most prominent multi-manager hedge funds in the world, with about $63bn in assets under management and average returns...
...To hit that goal, the business is aiming to attract $100bn of net new assets a year by 2025 as it tries to win back clients who left Credit Suisse in its final tumultuous years....
...Suisse....
...ICBC Credit Suisse Asset Management became the latest firm to announce on February 8 that it would reduce management and custodian fees for its ICBC Credit Suisse CSI 300 ETF with immediate effect, according...
...Switzerland’s financial regulator has called for stronger powers to oversee banks following the collapse of Credit Suisse this year....
...The Archegos episode is an extreme example: well in advance of the fund’s troubles, those in Credit Suisse who wanted to maintain a relationship with Archegos reportedly resisted efforts by risk management...
...Credit Suisse had frittered away its hard-won reputation through a series of scandals and management mis-steps. These had already depressed the share price to a three-decade low by the end of 2022....
...But the French asset manager, controlled by Crédit Agricole, is taking to their turf....
...Indeed, regulators are mistaken in assuming that the market panic from Credit Suisse is in any way indicative of their lack of value to investors....
...The calls echo those made last month by Sergio Ermotti, chief executive of UBS, which agreed to rescue Credit Suisse in March....
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