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Credit Suisse taps Goldman Sachs partner to lead risk turnaround

Credit Suisse taps Goldman Sachs partner to lead risk turnaround
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Credit Suisse Pressed by Senator on $200 Million Tax Fraud

Credit Suisse Pressed by Senator on $200 Million Tax Fraud This content was published on April 27, 2021 - 15:43 April 27, 2021 - 15:43 (Bloomberg) Credit Suisse Group AG, already under pressure for losing $5.5 billion in the collapse of Archegos Capital Management, must now answer questions from a powerful U.S. senator about a seven-year-old tax evasion scandal. Senate Finance Committee Chairman Ron Wyden wrote Tuesday to Credit Suisse and the Justice Department, asking their leaders to explain how the lender’s banking unit could have pleaded guilty in May 2014 to enabling U.S. tax evasion but failed to disclose more than $200 million in accounts held by an American.

Credit Suisse revolt to remove risk chief, 53,after Archegoes and Greensill scandals

Credit Suisse revolt to remove risk chief, 53,after Archegoes and Greensill scandals
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Credit Suisse s Exposure to Archegos Investments Grew to More Than $20 Billion

Provided by Dow Jones By Emily Glazer, Maureen Farrell and Margot Patrick Credit Suisse Group AG amassed more than $20 billion of exposure to investments related to Archegos Capital Management, but the bank struggled to monitor them before the fund was forced to liquidate many of its large positions, according to people familiar with the matter. The U.S. family investment firm s bets on a collection of stocks swelled in the lead-up to its March collapse, but parts of the investment bank hadn t fully implemented systems to keep pace with Archegos s fast growth, the people said. Credit Suisse Chief Executive Thomas Gottstein, and Chief Risk Officer Lara Warner, who recently departed the bank, only became aware of the bank s exposure to Archegos in the days leading up to the forced liquidation of the fund, people familiar with the bank said. Neither Mr. Gottstein nor Ms. Warner had been aware of the fund as a major client before that, these peop

Credit Suisse s exposure to Archegos Investments grew to more than $20 billion

Credit Suisse s exposure to Archegos Investments grew to more than $20 billion
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