Credit Suisse AG staff are making preparations to sue the Swiss financial regulator over $400 million of bonuses that were cancelled following the bank's rescue by UBS, a report said on Monday.
UBS Chief Executive Sergio Ermotti said the situation at Credit Suisse has stabilized and he did not think outflows at the embattled bank were continuing.
Clients rapidly started pulling money from Credit Suisse after it was ensnared in market turmoil unleashed by the collapse of Silicon Valley Bank and Signature Bank.
The bank reported results for what is likely to be the last time, as its shotgun marriage with rival Swiss bank UBS , is expected to be completed soon.
Clients rapidly started pulling money from Credit Suisse after it was ensnared in market turmoil unleashed by the collapse of Silicon Valley Bank and Signature Bank.