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Latest job changes across the industry
Credit Suisse faces some tough choices as it absorbs the extraordinary losses inflicted by the Greensill and Archegos fund fiascos and subsequent ratings hit. On April 6, the firm announced an estimated pre-tax loss of approximately Sfr900 million ($963 million) for the first quarter, including a charge of Sfr4.4 billion ($4.7 billion) in respect of Archegos. At the same time, the firm announced that investment bank CEO
Brian Chin and chief risk and compliance officer Lara Warner were stepping down from their roles with immediate effect.
Christian Meissner, co-head of wealth management banking advisory and vice-chair of investment banking, will replace Chin in May. Meissner was previously head of global corporate and investment banking at Bank of America Merrill Lynch, and earlier co-CEO for EMEA at Lehman Brothers.
People moves: Folksam LO Pension s CEO to exit; New AM chief at Credit Suisse [updated] | News
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Natasha Cazenave en route pour l Autorité européenne des marchés financiers
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ESMA Selects Natasha Cazenave As Candidate For Executive Director Position
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Delegation model under spotlight as European Commission reviews AIFM Directive
Submitted
By James Williams | 17/12/2020 - 10:41am
All eyes will be on the European Commission’s legal proposal pertaining to the AIFM Directive, which is expected to be published sometime in the first half of 2021, and could usher in an updated version – AIFMD II – a decade after it was first adopted.
The more interesting parts of the consultation for UK fund managers to be mindful of are delegation and marketing of non-EU funds to EU Member States. European fund domiciles including Luxembourg and Ireland will be especially keen to understand what changes, if any, are made to the delegation model, upon which third-party AIFM platforms have built substantial business models.