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Credit Suisse suspends EMEA AM head amid Greensill fallout, reports

Credit Suisse suspends EMEA AM head amid Greensill fallout, reports
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Credit Suisse Removes Bankers Over Greensill

Michel Degen Credit Suisse Removes Bankers Over Greensill Eric Varvel is making management changes at the Swiss bank s under-fire asset management unit,  finews.com has learned. This follows the implosion of a $10.1 billion line of funds co-managed with supply chain specialist Greensill. Zurich-based Credit Suisse is taking  Michel Degen off the job temporarily as the head of its asset management activities in Switzerland and wider Europe, the Middle East, and Africa, effective immediately, according to a memo to the unit s staff on Wednesday,  finews.com can report. «I ve asked Filippo Rima to take on the ad interim head of asset management head of Switzerland and EMEA,»

Credit Suisse temporarily replaces 3 executives amid supply chain finance funds terminations

Credit Suisse Starts Probe of Collapsed Funds, Suspends Managers

(Bloomberg) Credit Suisse Group AG started an internal probe into the collapse of a $10 billion group of supply chain finance funds and temporarily replaced three employees in its asset management unit who were tied to the strategy. The Swiss lender has reached out to external firms to deal with regulators’ queries surrounding the collapse of the funds, which it ran with Australian financier Lex Greensill, people familiar with the matter said, asking for anonymity in discussing internal information. Michel Degen, head of asset management in Switzerland and EMEA, is being replaced in the interim by Filippo Rima, according to one person. Luc Mathys, head of fixed income in the unit, and another manager who ran the funds were also suspended from their roles, the person said. A spokesperson for Credit Suisse declined to comment. The personnel changes were reported earlier by Finews.com. Credit Suisse froze the funds last week after doubts emerged about the valuations of some of the ass

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