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Search resuls for: "Credit Suisse's Swiss"


4 mentions found


☆ Morning Bid: Red alert
  + stars: | 2022-11-28 | by ( ) www.reuters.com   time to read: +2 min
Reuters Graphics Reuters GraphicsEuropean markets are likely to take a cue from the wave of red splashed across Asian markets on Monday, while investors will also scrutinise Wednesday's euro zone inflation data to see if the worst of the price surge is behind. While economists at Citi expect headline inflation to post the first decline since mid-2020, driven by falling energy inflation, European Central Bank's top economic thinkers have been sparring on the outlook for inflation and rates. Though U.S. inflation may be close to peaking, euro area price pressures remain strong. Inflation in the euro zone was 10.6% in October, more than five times the ECB's 2% target. The comments come after Switzerland's second-largest bank flagged a hefty loss last week as wealthy clients turn their back on the embattled bank.
☆ Few Credit Suisse clients have closed accounts - CEO of the bank's Swiss unit
  + stars: | 2022-11-27 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Nov 27 (Reuters) - The head of Credit Suisse's Swiss unit said "some customers have withdrawn some of their money, but very few have actually closed their accounts." The announcement sent the share price tumbling and led to the cost of insuring the debt of Credit Suisse against default rising. A number of options have been floated as paths Credit Suisse may take to help it get it back on track. Helfenstein said splitting the Swiss business from the bank's international business was "absolutely not an option". He also said a sale of the private client business and the asset management division was "not up for debate either".
☆ Credit Suisse's Swiss investment bank to be spared in overhaul
  + stars: | 2022-11-18 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Nov 18 (Reuters) - The Swiss arm of Credit Suisse's investment bank will be largely unaffected by the restructuring plan the bank announced last month, said Jens Haas, head of investment banking Switzerland. "We will retain our full footprint here in Switzerland, so from a client perspective and a market perspective, certainly nothing will change," he told Swiss newspaper L'Agefi. Along with a 4 billion Swiss franc ($4.2 billion) capital raise and thousands of job cuts, Credit Suisse is planning to scale back its scandal-hit investment bank in a shift towards banking for the wealthy. "Investment Banking Switzerland will become a part of the Swiss Bank division – which had already been the case before this year," Haas said. In terms of wallet share, investment banking Switzerland was the market leader in the alpine state with roughly 13%, he said.
☆ Speculators bet Credit Suisse shares have further to fall
  + stars: | 2022-10-21 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +3 min
Oct 21 (Reuters) - Investors have been adding to bets that Credit Suisse's shares still have further to fall after a social media storm forced a fresh look at the Swiss lender's problems. Credit Suisse declined to comment. In terms of financial firms subject to the highest amount of short selling, Credit Suisse currently stands fourth behind investment firms T. Rowe Price, BlackRock and Blackstone, according to data specialist FIS. Reuters Graphics"Retail investors were all over developments in Credit Suisse," said Ivan Ćosović, founder of data group Breakout Point, which tracks the sentiment of retail traders on platforms like Reddit. Credit Suisse was the subject of a flood of unsubstantiated rumours and critical memes including titles such as: "Everything is Fine?"
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