19.10.2016

Credit Suisse to launch quant funds, waiting Q3 results

400Credit Suisse faced challenges in the third quarter, as Chief Executive Tidjane Thiam underlined in the last weeks, while the Zurich-based bank planned to axe thousands of jobs within the end of this year.

Credit Suisse expects to shed some 1,200 jobs by the end of this year—which come on top of 4,800 job cuts already; CEO swiss bank intends to de-emphasize its investment banking operations while bolstering wealth management businesses in Asia and Switzerland. The bank will report third-quarter results on November 3.

Upon this matter, on Tuesday, the Swiss bank has set up a wealth management firm in Channel Islands, with local financial service provider Stenham Group; the new company will offer clients a wealth advisory service, which includes access to the full range of Credit Suisse’s specialist wealth management products, services and lending solutions. 

In the same day, accorging to an article in Business Insider, Credit Suisse's traders will launch very soon one of the biggest hedge fund this year. Qube, a quantitative-oriented hedge fund owned by Credit Suisse, started approaching investors about raising funds in the last few months and now has $800 million committed to the fund. It expects to manage more than $1.2 billion by early next year. A second fund owned by Credit Suisse and based in New York, QT, will be launch in 2017, and is expected to raise $600 million, according to the same report.

A Quantitative Hedge Fund is any Hedge Fund that relies upon algorithmic or systematic strategies for implementing its trading decisions. A spokesman for Credit Suisse declined to comment.


Events


Semptember 2015
  • 23
    Aug

    Regulierung – seit der Finanzkrise prägt der Ruf nach mehr Kontrolle das Banking: Wegen regulator

  • 24
    Aug

    Die Fonds-Konferenz der SKSF ist eine wichtige, branchenspezifische Plattform für Wissens- und Erfa

  • 02
    Sep

    2 evenings to find out about the latest from the digital industry & 2 days to find ideas and to crea

  • 11
    Sep

    ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.

  • 12
    Sep

    The objective of the Conference is to bring together all the diverse stakeholdersinterested in a pol

See All

newsletter

Updates and news from MarketPlus

Market Overview
SMI® PR9017.790,30 %
LYXOR DAX INAV116.569-0,76 %
FTSE MIB Index21634.720,26 %
FTSE 1007443.01-0,13 %
CAC 405186.95-0,06 %
S&P 5002475.42-0,10 %
NASDAQ Composite6382.1860-0,64 %
HANG SENG INDEX27131.170,70 %
Powered by Yahoo Finance