Credit Suisse Group AG is dealing with the fallout of a fraud at its international wealth management business, two years after it was criticized by a regulator in a similar case that rattled the bank and raised questions about controls.
Refuses to vacate arbitration decision requiring Swiss bank to pay deferred comp and damages to pair who joined Morgan Stanley.
Brokers claimed they were “fraudulently induced” to join Credit Suisse months before it shut down its U.S. business are ordered to repay $3.5 million of promissory note balances.
Credit Suisse Group AG is preparing a review of one of its most profitable business lines under new Chief Executive Officer Thomas Gottstein after the coronavirus pummeled markets and a key wealth unit executive departed.
Credit Suisse Group AG ousted Chief Executive Officer Tidjane Thiam to stem a decline in its reputation in the wake of a scandal that unnerved the Swiss establishment, said Chairman Urs Rohner.
Finra and several exchanges say the Swiss bank failed to adequately review potentially manipulative activity by broker-dealers and other institutional clients.
Philipp Wehle, who took over after Khan’s acrimonious split from the lender this year, is carving out a new entity to serve what he thinks could be the most lucrative layer of the wealthy: those who aren’t yet rich enough to need the bespoke services demanded by its billionaire clients.
Manhattan advisors are the sixth former Credit Suisse team to convince arbitrators that Credit Suisse illegally withheld their deferred compensation.
Credit Suisse Group AG is considering a return to U.S. wealth management after a four-year absence as Chief Executive Officer Tidjane Thiam seeks to boost growth in private banking.
The Credit Suisse Group AG spying scandal that has rocked Swiss financial circles took a new turn on Tuesday, with the private investigator hired by the bank giving its own version how it shadowed former star banker Iqbal Khan.
A made-in-Zurich banking drama spilled out into the open over the weekend after it emerged that ex-top Credit Suisse Group AG banker Iqbal Khan had been shadowed by the lender, leading to a confrontation in broad daylight in the Swiss financial capital.