Hints and tips:
Related Special Reports
...One of GFG’s financial advisers at Credit Suisse also formally attended the call and emailed a summary of Greensill’s remarks to Gupta and his lieutenants that included the following statement: “Confirmed...
...Elsewhere, the takeover of Credit Suisse by UBS has already resulted in at least 13,000 fewer roles at the combined bank, with further big redundancy rounds expected in the year ahead....
...The Credit Suisse takeover has cemented UBS’s position as the biggest wealth manager outside North America....
...Its lending was fuelled by its purchase of the securitised products unit of Credit Suisse a year ago, now called Atlas SP, and more than a dozen other lending platforms it has built or acquired....
...It had $4.6bn in revenue last year and nearly 3,500 employees, according to its website....
...UBS may have to wait until it has finished integrating Credit Suisse, however, before it tackles more M&A....
...FlexiPay, which includes a credit line, a payments system and a credit card, is showing real evidence of growth, though it still runs at a loss....
...Less than eight months after Swiss authorities wiped out $17bn of Credit Suisse’s AT1 bonds, UBS — which made a $29bn profit by buying Credit Suisse for $3bn — was able to issue a new AT1 structure....
...The private credit sector stepped in to the gap left by banks after post-financial crisis regulations forced them to scale back lending to small businesses....
...With the Swiss authorities having apparently acted on a whim to ease Credit Suisse’s forced $3.2bn sale to arch-rival UBS, faith in the investability of the product evaporated....
...Last year, EU and UK banks and regulators felt quietly smug when the region’s institutions emerged unscathed from the market turmoil and client nervousness that brought down Switzerland’s Credit Suisse and...
...It’s just a reflection really of the discount that UBS made in getting such a cheap price when it bought Credit Suisse five months ago for $3.4bn. Marc FilippinoOh, so it’s an accounting quirk....
...Dorrell and Vichie’s insight was shared by a handful of competitors at large investment banks, including Credit Suisse, Morgan Stanley and Goldman Sachs, which spurred the first wave of infrastructure investments...
...Job moves Centerview has hired former Credit Suisse co-head of Emea financial institutions group Israel Fernández as a partner, Financial News reports....
...That’s according to the Annual Wealth Report, a guide to household wealth, produced by Credit Suisse/UBS. It’s hardly a surprise, given the upsurge in inflation, which hit 8.3 per cent in the US....
...BUY: Experian (EXPN) The credit checker is navigating tighter lending standards with apparent ease, writes Jemma Slingo....
...Here’s more on the bids for the unit put up for sale by UBS after it took control of Credit Suisse last year....
...Credit Suisse’s problem went beyond this: the antics of its investment bank destroyed the trust of many wealth clients, and that of depositors to boot....
...Morgan Stanley brought on Greg Weinberger, a longtime adviser to Chevron who left Credit Suisse in 2019....
...A potential €200mn loss hasn’t deterred Blackstone’s massive lending push. Last month, the firm merged its credit and insurance arms in the hunt for its next trillion....
...In the Credit Suisse rescue, however, the value of its AT1s was written down from $17bn to zero, while equity holders were allowed to receive $3.25bn....
...Before long, large investment banks including Goldman Sachs, Credit Suisse, Citigroup, Morgan Stanley and Deutsche Bank were building their own dedicated investment teams....
...Citi also avoided the big issues of 2023 after failures of regional banks and Credit Suisse and has about the lowest exposure to CRE/office. (a) Book value has increased while the stock declined....
...And don’t miss Antoine and Brooke’s profile of Ogunlesi, who rose to head investment banking at Credit Suisse before founding GIP in 2006....
...“The one [non-US bank] that came close was Credit Suisse when Frank Quattrone was around in the early 2000s,” they added, referring to the Credit Suisse First Boston executive who almost single-handedly...
International Edition