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(2) ZURICH (dpa-AFX) - Credit Suisse sold about $2.3 billion worth of stocks tied to the Archegos Capital. The Zurich-based lender will change its executives after the bank was affected by the collapse of Archegos Capital Management, Bloomberg reported citing people familiar with the matter. Archegos Capital Management is a family office capital management firm run by Bill Hwang. Credit Suisse s investment-bank chief Brian Chin is set to leave, with his exit announced as soon as Tuesday, the report said. The report also said Zurich-based lender is discussing replacing Chief Risk Officer Lara Warner while sparing Chief Executive Officer Thomas Gottstein as they tally Archegos-related losses. ....
(1) ZURICH (dpa-AFX) - Credit Suisse (CS) said Tuesday that it expects to report a pre-tax loss of about 900 million Swiss francs in the first-quarter of 2021. It includes a charge of 4.4 billion francs in respect of the failure by a US-based hedge fund to meet its margin commitments. The Zurich-based lender also said that chief executive officer of its Investment Bank, Brian Chin, will step down from his role on the Executive Board, effective April 30, 2021. Lara Warner, Chief Risk and Compliance Officer, will step down from her role on the Executive Board, effective April 6. The company has appointed Christian Meissner as chief executive officer of the Investment Bank and member of the Executive Board, effective on May 1, 2021. ....
Credit Suisse Sees Loss In Q1 On Hefty Archegos Charge; Executives To Step Down ZURICH (dpa-AFX) - Swiss lender Credit Suisse Tuesday said it expects to report a pre-tax loss in its first quarter, hurt by a hefty 4.4 billion francs charge following the collapse of US-based hedge fund Archegos Capital Management. Related to the issues, the company said Investment Bank Chief Executive Officer Brian Chin will step down from his role on the Executive Board, effective April 30. Further, Lara Warner, Chief Risk and Compliance Officer, will step down, effective April 6. Credit Suisse has appointed Christian Meissner as Investment Bank CEO and member of the Executive Board, effective on May 1. Joachim Oechslin is appointed ad interim Chief Risk Officer and member of the Executive Board on an ad-interim basis, effective April 6. Thomas Grotzer is appointed ad interim Global Head of Compliance, effective April 6. ....
Covid 19 coronavirus: Chief medical officers are now at the heart of business 5 Apr, 2021 02:00 AM 7 minutes to read Doctors are being turned into executives to help look after employees physical and mental health due to the pandemic. Photo / Getty Images Doctors are being turned into executives to help look after employees physical and mental health due to the pandemic. Photo / Getty Images Financial Times A year into the pandemic, the expertise of doctors turned executives is in high demand. To say Dr Karen DeSalvo s entry into Google was busy would be an understatement. It s been quite a whirlwind, she says of her role as chief health officer, a new position for the tech group. The doctor, who previously worked as US acting assistant secretary for health and as health commissioner for New Orleans, joined at the end of 2019. ....
U.S. airline executives on Monday pointed to concrete signs of a domestic leisure travel recovery as a slowing pandemic drives spring and summer bookings, pushing shares to their highest level. | March 17, 2021 ....