Reuters
The role of Brian Chin, CEO of its investment bank, is also reportedly under scrutiny.
Credit Suisse has been involved in both the Archegos and Greensill crashes.
Leaders at Switzerland-based Credit Suisse are discussing replacing chief risk officer Lara Warner, after the bank was caught up in several high-profile incidents, leading to large potential losses, Bloomberg reported. The outlet cited people briefed on the matter.
Despite chief executive officer Thomas Gottstein s commitment to a clean slate in 2021, after a previous spying scandal at the bank, Credit Suisse has been one of the worst-performing major bank stocks in 2021.
The recent collapse of Greensill, along with chaos at Archegos, has potentially left investors facing another quarter of losses.
Credit Suisse is reportedly weighing the replacement of high-profile executives, including its risk chief, following Greensill and Archegos crises
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Credit Suisse is reportedly weighing the replacement of high-profile executives, including its risk chief, following Greensill and Archegos crises
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Chinese food ingredient specialist Huakang eyes $233m from Shanghai IPO
Shanghai, China. Source:
Ralf Leineweber/Unsplash
February 2, 2021
Zhejiang Huakang Pharmaceutical Co., Ltd, which specialises in the manufacture of polyols and starch sugar used in the food ingredient industry, has kicked off the subscription exercise for its initial public offering (IPO) in Shanghai looking to raise 1.5 billion yuan ($233 million).
The company, which filed its IPO prospectus on January 27, is offering 29.14 million common shares at 51.63 yuan ($7.99) apiece. The shares have been oversubscribed 8,688 times, as per a filing with the bourse.
Huakang plans to allocate the majority of the IPO proceeds to its pipeline programmes, including a technology centre, and green energy management systems. It expects to leverage the rest to refuel operating funds.