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A rare Swiss parliamentary investigation due to start this week aims to establish what went wrong before the dramatic fall of Credit Suisse, once Switzerland's second biggest bank.
Evercore Inc. EVR, +0.32% said Monday it has hired former Credit Suisse analyst Michael Binetti as senior managing director at Evercore ISI to provide research services for the department store and specialty retailer sectors. Binetti has nearly 20 years of research experience and most recently worked as managing director at Credit Suisse covering retail and digital commerce for more than five years.
Saudi National Bank wanted to increase its stake in Credit Suisse to around 40% from 9.88%, but was prevented from doing so by Swiss regulator FINMA, Blick newspaper reported on Sunday.
Private bankers at Credit Suisse are being told to dust off their resumes ahead of a selection of new managers following the takeover by UBS. Nabila Ahmed reports on Bloomberg Television.
Credit Suisse's private bankers are being told to dust off their resumes ahead of the selection of new managers following the takeover by UBS. Tom Metcalf reports on Bloomberg Television.
UBS Group AG is aiming to avoid using a $10 billion backstop for Credit Suisse amid a backlash, the Financial Times reported on Sunday.
Credit Suisse Group AG (NYSE:CS) rescuer UBS Group AG (NYSE:UBS) is reportedly poised to lay off tens of thousands of staff from the embattled bank in a move that could well mark another blow for London's Canary Wharf. Some 35,000 posts could be removed from Credit Suisse as the bank is merged with UBS, according to Bloomberg, with cuts set to affect offices in Asia, New York and London.
UBS is weighing cutting tens of thousands of jobs following its emergency takeover of Credit Suisse, as the Swiss bank leans towards keeping the domestic operations of its fallen rival, according to a person familiar with the discussions.
UBS is preparing a dramatic cull of Credit Suisse bankers in wake of its rescue deal for its Swiss rival.
Bankers, traders, support staff in Credit Suisse's investment bank in London, New York, and in some parts of Asia are expected to bear the brunt, with almost all activities at risk, Bloomberg News reported.