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Credit Suisse Freezes More Supply Chain Finance Funds as Greensill Scandal Widens

Credit Suisse Freezes More Supply Chain Finance Funds as Greensill Scandal Widens Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Lex Greensill’s failed empire. The additional funds have about $1.2 billion in assets, some of which they had put into the four Greensill-linked funds that Credit Suisse is now liquidating. The bank suspended them effective March 1, the same day it froze the supply chain finance strategy. It posted the decision in an investor update on its website dated March 9.

Luc mathysFilippo rimaSanjeev guptaLex greensillThomas gottsteinMichel degenCredit suisse lux multi strategy alternative fundCredit suisse groupCredit suisseJapan tokio marine holdings incCredit suisse lux multi strategy bond fundCredit suisse lux institutional target volatility fundTokio marine bond credit coSuisse groupMulti strategy bond fundMulti strategy alternative

Credit Suisse executives overruled risk managers on $160m loan to Greensill

Credit Suisse executives âoverruledâ risk managers on $160m loan to Greensill Credit Suisse is scrambling to gauge the magnitude of its exposure to Greensill Â© Keystone / Christian Beutler Senior Credit Suisse executives overruled risk managers to approve a $160 million (CHF148 million) loan to Greensill Capital, which the collapsing finance group now has âno conceivable wayâ to repay, according to people familiar with the matter. This content was published on March 12, 2021 - 08:54 March 12, 2021 - 08:54 Stephen Morris, Robert Smith, Arash Massoudi and Owen Walker in London, Financial Times Several people with direct knowledge of the loan said that it was initially rejected by London-based risk managers in the investment bank.

United kingdomCity ofLuc mathysLukas haasSanjeev guptaAlexandre bouchardyLex greensillThomas gottsteinMichel degenEric varvelFilippo rimaLara warnerCredit suisseVision fundSenior credit suisseGreensill capital

Credit Suisse executives overruled risk managers on $160m loan to Greensill

Credit Suisse executives overruled risk managers on $160m loan to Greensill
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United kingdomCity ofLuc mathysLukas haasSanjeev guptaAlexandre bouchardyLex greensillThomas gottsteinMichel degenEric varvelFilippo rimaLara warnerCredit suisseVision fundSenior credit suisseGreensill capital

Credit Suisse Freezes $1 Billion of Funds as Scandal Widens

(Bloomberg) Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Lex Greensill’s failed empire. The additional funds have about $1.2 billion in assets, some of which they had put into the four Greensill-linked funds that Credit Suisse is now liquidating. The bank suspended them effective March 1, the same day it froze the supply chain finance strategy. It posted the decision in an investor update on its website dated March 9. The largest of the additional funds are the $701 million Credit Suisse (Lux) Multi Strategy Bond Fund and the $303 million Credit Suisse (Lux) Multi Strategy Alternative Fund. Their suspension compounds a crisis that’s forced Credit Suisse to seek outside help to deal with regulators’ queries and threatens to saddle the bank with losses from a loan that it made months before the collapse of Greensill’s empire. For Chief Exe

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Credit Suisse freezes another $US1 2b of funds as Greensill fallout widens

Credit Suisse Group froze four more funds that invested in the bank’s $US10 billion ($12.9 billion) supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Greensill Capital.

Luc mathysFilippo rimaMichel degenCredit suisse lux institutional target volatility fundCredit suisseQatar enhanced short duration fundInstitutional target volatilityபிலிப்போ ரிமாமைக்கேல் டேகேன்கடன் ஸ்யூயிகத்தார் மேம்படுத்தப்பட்டது குறுகிய காலம் நிதி