Qatari Royal Is Among Investors Exposed in Credit Suisse Supply-Chain Funds
This content was published on April 6, 2021 - 17:56
April 6, 2021 - 17:56
(Bloomberg) Qatar’s former prime minister is one of the wealthy Middle Eastern investors exposed to Credit Suisse Group AG’s troubled supply-chain finance funds, according to people familiar with the matter.
Vehicles linked to Sheikh Hamad bin Jassim Al Thani invested approximately $200 million in the funds that bought loans from Greensill Capital, the financial firm that collapsed in early March, said the people, asking not to be named because they are not authorized to speak on the matter.
Credit Suisse Scandal Toll Goes Ever Higher as Rivals Thrive
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Credit Suisse scandal toll goes ever higher as rivals thrive
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Credit Suisse Scandal Toll Goes Ever Higher as Rivals Thrive
This content was published on April 6, 2021 - 20:30
April 6, 2021 - 20:30
(Bloomberg) In an era of prosperity for investment banks, Credit Suisse Group AG is careening from one crisis to another and then another this time, with a $4.7 billion writedown tied to billionaire investor Bill Hwang’s trading blowout.
The staggering hit the largest yet linked to market-shaking losses run up by Hwang’s Archegos Capital Management prompted sweeping management changes at the Swiss bank Tuesday and cast fresh doubt on its checkered record of managing risks. It caps a catalog of costly errors at Credit Suisse most recently the collapse of Greensill Capital in what was supposed to be the start of steadier era under Chief Executive Officer Thomas Gottstein.