Page 2 - Credit Suisse
UBS still examining the risk of misstatement in Credit Suisse's books
A "material weakness" in how Credit Suisse reported its numbers could signal a significant misstatement in the financial statements
 "UBS still examining the risk of misstatement in Credit Suisse's books")
SpiceJet cleared all outstanding dues: Credit Suisse tells Supreme Court
Credit Suisse and SpiceJet have been entangled in a legal conflict since 2015 over outstanding debts of approximately $24 million
 "SpiceJet cleared all outstanding dues: Credit Suisse tells Supreme Court")
UBS Group plans to shut thousands of smaller Credit Suisse accounts in Asia
The lender is reviewing the accounts with a balance of around $2 million or less, said the people, who asked not to be identified discussing private information
 "UBS Group plans to shut thousands of smaller Credit Suisse accounts in Asia")
UBS Group moves past $100 billion a year after Credit Suisse shock
Overnight, the client funds managed by its wealth unit jumped by about one-fifth to $3.4 trillion at the time.
 "UBS Group moves past $100 billion a year after Credit Suisse shock")
Credit Suisse client accused of dodging taxes for a decade gets $15 mn bail
Dan Rotta, 78, who was arrested March 9 at Miami International Airport as he prepared to fly to Barcelona, must remain under house arrest with an electronic monitor, a federal judge in Miami ruled
 "Credit Suisse client accused of dodging taxes for a decade gets $15 mn bail")
Jack Ma-backed Ant outbids Citadel Securities for Credit Suisse's China op
UBS is struggling to attract interest in the unit from global firms because of escalating geopolitical tensions, a crackdown on bank data flows and the struggling economy
 "Jack Ma-backed Ant outbids Citadel Securities for Credit Suisse's China op")
You've money to buy Go First but not to pay Credit Suisse: SC to Ajay Singh
Credit Suisse and SpiceJet have been entangled in a legal conflict since 2015 over outstanding debts of approximately $24 million
 "You've money to buy Go First but not to pay Credit Suisse: SC to Ajay Singh")
Ex-Credit Suisse dealmakers are shaking up $1.3 trillion junk-bond market
Credit Suisse used to be a big arranger of CLOs - vehicles that buy up junk-rated company loans, bundle them together and sell them as bonds
 "Ex-Credit Suisse dealmakers are shaking up $1.3 trillion junk-bond market")
UBS resumes buybacks, seeks more cost savings from Credit Suisse takeover
Shares in the bank dropped as much as 4%, with analysts pointing to slightly lower-than-expected profitability targets as revenue at the lender falls before the cost savings are achieved
 "UBS resumes buybacks, seeks more cost savings from Credit Suisse takeover")
UBS, Credit Suisse lost ground in combined Swiss fund business over 2023
The market share of the combined bank, which became a single entity last year after UBS stepped in to rescue Credit Suisse, fell to 37.6% in 2023, down from 39.3% the previous year
 "UBS, Credit Suisse lost ground in combined Swiss fund business over 2023")
Former Credit Suisse wealth executive Sandipan Roy joins Motilal Oswal
Sandipan Roy will be chief investment officer for the private wealth business, reporting to Ashish Shanker who heads the unit, according to a spokesperson for Motilal Oswal
 "Former Credit Suisse wealth executive Sandipan Roy joins Motilal Oswal")
Credit Suisse penalised $3 mn after probe by Singapore authorities
The action on Credit Suisse follows its review of pricing and disclosure practices in the private banking industry, according to the MAS
 "Credit Suisse penalised $3 mn after probe by Singapore authorities")
Global corporate landscape 2023: Mergers, closures, and leadership shifts
From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023
UBS steps up bid to claw back cash bonuses from Credit Suisse defectors
UBS has contacted hundreds of bankers and offered some multi-year payment plans amid efforts to claw back a chunk of the 1.2 billion Swiss francs ($1.38 billion) in restricted cash bonuses
 "UBS steps up bid to claw back cash bonuses from Credit Suisse defectors")
SpiceJet board okays Rs 2,250 crore fundraising from 64 investors
Airline slips back to loss in second qtr
 "SpiceJet board okays Rs 2,250 crore fundraising from 64 investors")
Credit Suisse reinstates independent overseer for Nazi-account probe
The bank confirmed the decision Tuesday, taking the unusual step of amending a press release it issued in April to delete criticism of Barofsky's work.
HSBC hires UBS's Gautam Anand for role serving India's rich diaspora
Gautam Anand was appointed Global Coordinator for Global India, the Middle East, North Africa and Europe from Dec. 1, according to an internal memo seen by Bloomberg News
 "HSBC hires UBS's Gautam Anand for role serving India's rich diaspora")
Singapore's financial regulator to inspect Credit Suisse in $2 bn scandal
The local unit of Credit Suisse will be among banks the Monetary Authority of Singapore plans to examine to determine whether they properly handled the monitoring of wealthy clients
 "Singapore's financial regulator to inspect Credit Suisse in $2 bn scandal")
Rainer Gut, who transformed Credit Suisse into global bank, dies at 91
The Swiss-born Gut, whose career included stints on Wall Street, held top positions at Credit Suisse from 1971 to 2000, and was honorary chairman until April
 "Rainer Gut, who transformed Credit Suisse into global bank, dies at 91")
Barclays hires Credit Suisse dealmakers in India amid firmwide job cuts
The UK bank is seeking to replenish its ranks in the market after Ashish Jhaveri, head of mergers and acquisitions for the firm in India, left for Jefferies Financial Group Inc
 "Barclays hires Credit Suisse dealmakers in India amid firmwide job cuts")
