Credit Suisse to connect clients with early-stage investment opportunities October 23, 2020 Credit Suisse, Linklaters, Deloitte and The Conduit Connect have launched a new venture to partner early-stage companies with potential investors. The partnership will connect members of London-based social change initiative The Conduit with Credit Suisse clients to access impact investment opportunities. The Conduit Connect currently matches early-stage investment opportunities, such as The Library of Things, [...]
Softbank invested in Credit Suisse funds financing its Vision Fund bets June 15, 2020 Softbank has reportedly invested over $500m (£399m) into Credit Suisse investment funds that made large bets on startups backed by the Japanese tech investment giant’s Vision Fund. Softbank invested in the Swiss lender’s $7.5bn range of supply-chain finance funds, the Financial Times reported, citing three people familiar with the matter. The funds are marketed by [...]
Credit Suisse cuts ex-boss Thiam’s bonus in wake of spying scandal March 25, 2020 The spying scandal that rocked Credit Suisse cost former chief executive Tidjane Thiam part of his bonus in 2019, with his overall compensation falling 15 per cent to 10.7 million Swiss francs (£9.2m). Thiam quit in February after a bitter boardroom battle with chairman Urs Rohner in the wake of the scandal over surveillance of [...]
Credit Suisse quarterly profit rises despite coronavirus turmoil March 19, 2020 Credit Suisse said it was on course to deliver strong results for the first quarter despite market volatility related to the coronavirus pandemic. In a trading update released this morning, the Swiss banking giant said profits for the quarter would comfortably beat the 1.06bn Swiss Francs (£940m) it reported before tax for the first quarter [...]
Credit Suisse chair ‘sought to extend’ tenure despite pledge to step down March 5, 2020 Credit Suisse chairman Urs Rohner has reportedly sounded out shareholders about extending his tenure multiple times in recent months, despite repeatedly pledging to step down in 2021. Rohner, who has held the role since 2011, recently ousted Tidjane Thiam as chief executive of the Swiss lender in a bitter board battle after Credit Suisse became [...]
Bittersweet farewell for Tidjane Thiam as Credit Suisse profits soar February 13, 2020 Credit Suisse has reported its highest annual profits in almost a decade, just days after chief executive Tidjane Thiam was ousted in the wake of a lurid spying scandal that erupted last year. The figures Credit Suisse’s pre-tax profit rose 40 per cent to 4.7bn Swiss francs (£3.7bn) for 2019, the highest figure since 2010. [...]
Swiss investment adviser calls on Credit Suisse chairman to quit over spying scandal February 6, 2020 The head of a prominent Swiss investment adviser has called on Credit Suisse chairman Urs Rohner to step down, as a boardroom battle sparked by the bank spying on executives escalates. Rohner has been locked in a power struggle with chief executive Tidjane Thiam since the revelation in September that the Swiss lender had hired [...]
Credit Suisse shareholders back chief executive in board battle February 5, 2020 Three top Credit Suisse investors have backed chief executive Tidjane Thiam in a power struggle with chairman Urs Rohner as the Swiss bank grapples with the aftermath of a spying scandal. Relations between the pair are understood to have come under increased strain since the revelation that the bank had hired a corporate espionage agency [...]
Credit Suisse admits to spying on second executive December 24, 2019 The Credit Suisse spying saga continues as the Swiss bank admitted to having undertaken surveillance of a second senior executive. Following surveillance of the firm’s former wealth management chief, bank blamed former chief operating officer Pierre-Olivier Bouee for hiring detectives in February to track former human resources head Peter Goerke. Read more: Credit Suisse cuts [...]
Credit Suisse cuts profit targets and pivots away from coal December 11, 2019 Credit Suisse faces missed targets and losses next year, after the bank cut its profitability target for 2020. The Swiss bank expects return on tangible equity – a profitability metric – to be over eight per cent, a drop from previous expectations of 10-11 per cent. Read more: Credit Suisse profit doubles amid rise in [...]