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Credit Suisse rejigs asset management under regulatory glare

Sumary of Credit Suisse rejigs asset management under regulatory glare:

  • Article content ZURICH — Credit Suisse is overhauling its asset management business amid regulatory investigations into its dealings with collapsed Greensill Capital, the bank said on Thursday, warning the scandal could hit its results and client confidence…
  • Switzerland second-biggest bank and its asset management arm have been reeling over the collapse of around $10 billion of funds related to British supply chain financier Greensill, heaping pressure on CEO Thomas Gottstein, who said on Tuesday he was scrutinizing the business structure…
  • Credit Suisse also named Ulrich Koerner as the new head of asset management and said it would separate the business into its own division from April 1…
  • “We might also suffer reputational harm associated with these matters that might cause client departures or loss of assets under management,”…

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