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Credit Suisse Unveils Promised Reorg, Cuts Prime Brokerage In Pivot To Catering To World s Rich

Credit Suisse Unveils Promised Reorg, Cuts Prime Brokerage In Pivot To Catering To World s Rich
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Credit Suisse s new strategy is quite familiar

António Horta-Osório shifts more capital away from investment banking and into wealth management, while the executive team sells his risk management overhaul as a growth story.

Credit Suisse Parses Options as M&A Looms

Credit Suisse Chairman António Horta-Osório (Image: Keystone) Wednesday, 12 May 2021 07:00 | Written by Katharina Bart Credit Suisse Parses Options as M&A Looms As its market cap slips below $25 billion, the Swiss bank’s options are shrinking. António Horta-Osório s strategic options inevitably lead to mergers or being acquired – his choice is sooner or later. António Horta-Osório. The Portuguese banking veteran’s dilemma is identifying the most troubled spots and deciding what to salvage – amidst a minefield of domestic economic and political interests. His entrance buys Credit Suisse reprieve before the deal talk begins in earnest. «We will take the time required for an in-depth assessment of the bank’s strategic options,» Horta-Osório told investors ten days ago when he took over. «This will be done with a long-term perspective not losing sight of the short-term needs.»

Credit Suisse s governance rebound a tall task after unacceptable losses | Article

By Neil Hodge2021-04-22T18:41:00+01:00 Credit Suisse on Thursday asked investors for $1.9 billion to rebuild its finances after suffering what CEO Thomas Gottstein called “unacceptable” losses. The Swiss banking giant was on course to achieve its best trading quarter for a decade until it was forced to write off $4.7 billion through its exposure to the collapse of U.S. hedge fund Archegos Capital. Instead, the bank posted a 757 million Swiss franc (U.S. $825 million) loss for the first three months of the year, having previously warned losses could reach $980 million. The bank is also likely to write off more than $2.3 billion following the bankruptcy of Greensill Capital, which supplied assets for Credit Suisse’s $10 billion of supply-chain funds.

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