Berlin/Singapore/London — The damage control at Credit Suisse Group from a pair of disasters that stunned the banking world will soon give way to the question of how the 165-year-old institution will rehabilitate its business and reputation.
With a Sf4.4bn writedown tied to its losses from Archegos, the fallout from the collapse of Greensill Capital, and a dividend cut and suspension in share buybacks, frustrations among stakeholders are boiling over. Speculation is rife over the future of the investment bank, the asset management unit, and the fate of top executives.
Horta-Osorio’s initial decisions could depend on whether the Swiss regulator, Finma, requires Credit Suisse to hold more capital against its credit or operational risks, as it did after UBS lost about $2bn on unauthorised trades by London-based trader Kweku Adoboli a decade ago. Bankers were running the numbers on Credit Suisse as a potential acquisition target even before the Archegos fallout. Deutsche Bank could explore a deal to create a European investment banking champion with one of the biggest wealth managers in the world. BNP Paribas, one of the few European banks able to do a deal, could scale up quickly in Asia while expanding its investment banking business.
EricWalker00 𝗶𝘀 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 Bitcoin trader. H𝗲 𝗵𝗮ve has good 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝘀𝗸𝗶𝗹𝗹𝘀. 𝗬𝗼𝘂 𝗰𝗮𝗻 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝗵𝗶𝗺 ,𝗵𝗶𝘀 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗶𝘀 𝗼𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝘆𝗼𝘂 𝗰𝗮𝗻 𝘁𝗿𝘂𝘀𝘁. EricWalker00
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.