May 3, 2023
When UBS Group AG integrates Credit Suisse Group AG in the coming months, the Swiss bank plans to run staff from the scandal-prone former rival through what Chairman Colm Kelleher dubbed a “culture filter” to weed out potential bad apples. …
March 16, 2023
Switzerland’s UBS has agreed to buy rival Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock in a shotgun merger engineered by Swiss authorities. Credit Suisse had embarked on an overhaul to recover from scandals, losses and lawsuits, …
October 24, 2022
Credit Suisse agreed to pay France 238 million euros ($234 million) to settle a tax fraud and money laundering case on Monday, putting another legal headache behind it as it prepares a strategic overhaul. The agreement resolves an investigation in …
April 8, 2022
Greensill Capital collapsed more than a year ago, but $9.3 billion of assets sold to investors as notes are yet to pay out. The lender, which collapsed in March 2021, sold short-term trade finance products to investors including funds run …
April 4, 2022
Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would “vigorously defend” itself against any legal claims. Greensill’s supply chain …
April 4, 2022
Credit Suisse said on Monday that litigation related to Greensill supply chain finance funds (SCFF) could take around five years and warned that some investors would not be able to recover their money. Credit Suisse racked up a 1.6 billion …
February 8, 2022
Credit Suisse faced charges in a Swiss court on Monday of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros, some of it stuffed into suitcases. In the first criminal trial of a major bank in Switzerland, …