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Top related persons:
Thomas Gottstein - 1 Ahmed Yosri - 1 Tidjane Thiam - 1 Brady Dougan - 1 litigators - 1 Noele - 1 Tomasz Janowski - 1
Top related locs:
Riyadh Saudi Arabia ZURICH Swiss New York Switzerland’s Federal
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Credit Suisse - 1 Investment - 1 REUTERS - 1 UBS - 1 Court - 1 Thomson - 1

Search resuls for: "Thomas Gottstein"


7 mentions found


☆ Three former Credit Suisse CEOs accused of excessive risk-taking -court filing
  + stars: | 2023-06-22 | by ( Industry Insight | How Law Firms Calculate Greenhouse Gas Emissions | Gayatri Joshi | ) www.reuters.com   time to read: +1 min
[1/3] Chief Executive Officer of Credit Suisse, Thomas Gottstein, speaks during the fourth annual Future Investment Initiative in Riyadh, Saudi Arabia, January 27, 2021. REUTERS/Ahmed Yosri/File PhotoZURICH, June 22 (Reuters) - A group of Credit Suisse AT1 bondholders has filed a class action suit accusing former executives at the Swiss bank, including three past chief CEOs, of being responsible for the bank's downfall. "Credit Suisse’s directors and senior executives, and the rotten culture they instilled and fostered, destroyed trust in the bank, which led to its collapse," the lawsuit said. The lawsuit also accused executives of "creating and perpetuating a culture at Credit Suisse that placed profits, excessive risk-taking, and self-dealing over sound risk management and compliance with the law." Last month, Switzerland’s Federal Administrative Court said it has received 230 claims against the country’s financial regulator FINMA after it wrote off the value of Credit Suisse’s AT1 bonds.
Persons: Thomas Gottstein, Ahmed Yosri, Tidjane Thiam, Brady Dougan, litigators, Noele, Tomasz Janowski Organizations: Credit Suisse, Investment, REUTERS, UBS, Court, Thomson Locations: Riyadh, Saudi Arabia, ZURICH, Swiss, New York, Switzerland’s Federal
☆ From spying to Swiss bailout: How years of turbulence at Credit Suisse came to a head
  + stars: | 2023-03-17 | by ( Elliot Smith | ) www.cnbc.com   time to read: +6 min
The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland February 21, 2022. The announcement that Credit Suisse would borrow up to 50 billion Swiss francs ($54 billion) from the central bank came after consecutive sessions of steep drops in its share price. It made Credit Suisse the first major bank to receive such an intervention since the 2008 Global Financial Crisis. Scandals Credit Suisse is currently undergoing a massive strategic overhaul in a bid to address these chronic issues. These oversight failures resulted in a massive shakeup of Credit Suisse's investment banking, risk and compliance and asset management divisions.
☆ How Credit Suisse has evolved over 167 years
  + stars: | 2023-03-16 | by ( ) www.reuters.com   time to read: +5 min
Here is how Credit Suisse has developed over 167 years:1856Politician and business leader Alfred Escher founds Schweizerische Kreditanstalt (SKA) to finance the expansion of the railroad network and promote Swiss industrialisation. 1997A reorganisation turns CS Holding into Credit Suisse Group and drops the SKA name; it also buys insurer Winterthur, a strategic partner. 2002A reorganisation creates two units: Credit Suisse Financial Services and Credit Suisse First Boston; two years later it splits into three units by adding Winterthur. 2005Credit Suisse and CSFB merge and stop using the Credit Suisse First Boston brand name. The Swiss authorities provide assurances that Credit Suisse has met "the capital and liquidity requirements imposed on systemically important banks".
☆ Factbox: Who's in and out in Credit Suisse's day of reckoning
  + stars: | 2022-10-27 | by ( Pamela Barbaglia | ) www.reuters.com   time to read: +5 min
Oct 27 (Reuters) - Credit Suisse's (CSGN.S) latest shake-up has led to the promotion of some senior executives to more powerful roles while others are leaving. IN:MICHAEL KLEINA former Citigroup Inc (C.N) dealmaker, Klein has been named adviser to Credit Suisse CEO Ulrich Körner. He was hired by former Credit Suisse boss Tidjane Thiam in 2017 to run equity derivatives globally. A Spanish national, Lopez Lorenzo joined Credit Suisse in 2015 from JPMorgan (JPM.N) where he was a managing director in New York. The 47-year-old banker was part of a new crop of executives who had been tasked to restore Credit Suisse's reputation after a series of scandals.
☆ The evolution of Credit Suisse over 166 years
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: +4 min
1990The group takes a controlling stake in U.S. investment bank CS First Boston and buys Bank Leu, a Swiss private bank. 1997A reorganisation turns CS Holding into Credit Suisse Group and drops the SKA name; it also buys insurer Winterthur, a strategic partner. 2002A reorganisation creates two units: Credit Suisse Financial Services and Credit Suisse First Boston; two years later it splits into three units by adding Winterthur. 2005Credit Suisse and CSFB merge and stop using the Credit Suisse First Boston brand name. In March, U.S. investment fund Archegos implodes, saddling Credit Suisse with a $5.5 billion loss.
☆ Credit Suisse begins perilous ride to right place
  + stars: | 2022-10-27 | by ( Liam Proud | ) www.reuters.com   time to read: +4 min
LONDON, Oct 27 (Reuters Breakingviews) - After years of botched strategies, Credit Suisse (CSGN.S) has finally hit the nail on the head. He’s also in exclusive talks with Apollo Global Management (APO.N) and PIMCO about selling the securitisation business, which bundles and slices mortgages for credit investors. It could fall even further if Credit Suisse eventually hives off the carved-out dealmaking business it is rebranding as CS First Boston, under former Citigroup (C.N) rainmaker Michael Klein. Those moves solve the central problem that has plagued Credit Suisse for years, and which former CEOs Thomas Gottstein and Tidjane Thiam failed to answer. The deposit outflow saw Credit Suisse breach liquidity requirements set by regulators of its legal subsidiaries.
☆ Explainer: Credit Suisse in spotlight ahead of strategy shift
  + stars: | 2022-10-24 | by ( ) www.reuters.com   time to read: +5 min
WHY IS CREDIT SUISSE IN THE SPOTLIGHT? A spying scandal forced then-CEO Tidjane Thiam to quit in 2020, and Switzerland's financial regulator said Credit Suisse had misled it about the scale of its surveillance. His successor Thomas Gottstein lasted until July 2022, when Credit Suisse turned to restructuring expert Ulrich Koerner as CEO and launched a second strategic review within a year. Credit Suisse is looking to sell the Savoy Hotel in central Zurich, which could be worth 400 million Swiss francs. Since its foundation in 1856, Credit Suisse has played a central role in the history and development of Switzerland.
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