Hurt by Losses, Credit Suisse Faces Reckoning Under New Chairman
The nearly $5 billion loss from the collapse of Archegos Capital Management was just the latest problem for Credit Suisse’s beleaguered investment bank.
António Horta-Osório, who started his job as chairman of Credit Suisse on Friday, is a former chief of the Lloyds Banking Group.Credit.Simon Dawson/Reuters
April 30, 2021
After Credit Suisse said it had lost nearly $5 billion over soured trades that a small unit of its investment bank made with Archegos Capital Management, worried employees peppered Thomas Gottstein, the chief executive, with questions.
One wanted to know if bankers who weren’t involved would have to sacrifice pay over the losses. Another asked why the entire investment bank was tarnished by the actions of one errant unit.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Mexican fintech Credijusto acquires data analytics platform, Visor
April 21, 2021 GMT
MEXICO CITY, April 21, 2021 /PRNewswire/ Credijusto, the leading technology-enabled small business lender in Mexico, announced today the acquisition of Visor, a data analytics and digital factoring platform.
Founded in 2015 by Rubén Sánchez Souza and Jean-Bernard Rolland, Visor has analyzed over 15,000 companies in Latin America. Additionally, its services have been used by over 40 financial institutions, marketplaces, and corporations to assess credit risk of the companies they do business with. Furthermore, Visor is an important source of analytics for development banks and supply chain financing firms, who utilize the platform’s technology to offer credit solutions to their clients.