News by tag: Credit Suisse


Credit Suisse targeted by activist hedge fund

Activist investor RBR Capital Advisors, supported by Gaël de Boissard, a former Credit Suisse investment bank co-head on Tuesday confirmed it has built a position in Credit Suisse and has been talking with the Swiss bank's management. RBR Capital Advisors will reveal its plan later in the week at a conference in New York, the Financial Times reported. According to the report, the plan will offer the argument for a three-way split of Credit Suisse into an investment bank, an asset management group and a wealth manager accommodating the Switzerland-based bank's retail and business banking operations.

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Credit Suisse: $80 mln agreement will be taken in Q3 results

Credit Suisse is taking a roughly $79.5 million hit to settle charges by Massachusetts Mutual Life Insurance about its residential mortgage-backed securities (RMBS) business, the Swiss bank said late on Thursday. The new pre-tax charge will be taken in the Zurich-based bank’s third-quarter results and is in addition to its existing legal reserves set aside for the case.

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Bitcoin: Credit Suisse joins UBS-lead blockchain project

Several major banks have joined a project called Utility Settlement Coin (USC) that is intended to facilitate the issuance by central banks around the world of currencies using Blockchain technology. Six international banks: Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street have joined up with UBS to develop a new digital cash system using the blockchain. BNY Mellon, Deutsche Bank, Santander and the blockchain company Clearmatics joined the project back in 2015.

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Credit Suisse sued by Former Georgia's Premier

Lawyers for former Georgia prime minister Bidzina Ivanishvili said on Tuesday they are suing Credit Suisse in Singapore, New Zealand and Bermuda, alleging failings at the bank led to fraudulent mismanagement and substantial losses. Lawyers for Mr Ivanishvili have previously alleged that fraudulent activities by a Credit Suisse client adviser lost the former Georgian leader hundreds of millions of dollars.

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US: Credit Suisse, UBS sued by three pension funds

Three public pension funds, including the Orange County Employees Retirement System, have sued a half-dozen Wall Street banks, alleging they illegally conspired to control a corner of the stock market, leading to higher charges for the funds and thus less money for retirees.

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Qatar sovereign wealth fund reduces stake in Credit Suisse

The Qatar Investment Authority (QIA) has reduced its shareholding in Credit Suisse Group to 4.94 percent, amid the Middle Eastern nation’s diplomatic crisis with neighbouring countries. The QIA previously held 5.01 percent in voting rights and is reporting a sale of shares for the first time since 2008. Qatar’s overall holding – including bonds which convert into equity if capital levels fall below a certain threshold – declined to 15.91 percent from 17.98 percent after a rise in the number of outstanding Credit Suisse shares because of its capital increase.

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Former Credit Suisse banker pleaded guilty in a US trial over Tax case

A Swiss citizen pleaded guilty on Thursday this week for conspiring to defraud the U.S government while she was working at Credit Suisse.  Susanne D. Ruegg Meier admitted to a Virginia court that while working at Credit Suisse's North American desk in Switzerland from 2002 to 2011, she aided and conspired to help U.S taxpayers evade paying taxes on their incomes. She did this by concealing the earnings and assets of potential taxpayers in secret Swiss bank accounts.

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Credit Suisse CEO plans new era ending cost-cutting phase

Credit Suisse signalled the era of cost-cutting and job cuts may be soon be over, telling employees that the bank will emphasise businesses that generate higher returns in its next strategic plan. Credit Suisse aims to achieve its current capital, cost and pre-tax income targets by 2018 but Chief Executive Tidjane Thiam told staff preparation will start in July on its 2018-2020 plan.

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US bank CEOs earn three times more than european collegues

The chief executives of U.S. banks have been paid handsomely since 2004, with the average boss making three times as much as their counterparts around the globe, according to Bernstein report. The research examined chief executive pay across 25 banks in the US, Europe and Asia for the past 13 years and it shows that US banks have persistently paid more than rivals in the rest of the world based on 2016 data. 

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Credit Suisse raised $4.3 bn in rights offering

Credit Suisse Group investors agreed to buy 99.2 percent of the shares on sale in a rights offering, providing 4.1 billion Swiss francs ($4.3 billion) for Chief Executive Officer Tidjane Thiam’s turnaround plan.

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Semptember 2015
  • 24

    Two years after two historic global agreements were established, leaders and other change agents in

  • 25

    Im September haben die Schweizer Stimmbürger die „Altersreform 2020“ des Bundesrates abgelehnt.

  • 30

    The 2017 symposium, with the theme "Successfully crossing borders", will have a strong focus on the

  • 31

    Dieser Event ist ausschliesslich für Pensionskassenvertreter (Stiftungsräte, CEOs, Anlageverantwor

  • 01

    Nach Jahren des geldpolitischen Experimentierens sind die Finanzmärkte so verzerrt wie selten zuvor

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