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UBS may see $150 billion drop in wealth management client assets
The decline would be due to the acquisition of Credit Suisse which would come as a result of client outflows, the overlap between the two banks and ongoing cost savings, says bank analysts.
UBS could get hit with hefty fines over Credit Suisse’s dealings with Archegos
The Federal Reserve’s fine over Archegos may be as high as $300 million, while the UK’s Prudential Regulation Authority could impose a penalty of up to $128 million.
Credit Suisse still helping Americans dodge taxes, Senate panel says
The committee uncovered 'major violations' of the $2.6 billion plea deal Credit Suisse reached with the Justice Department in 2014, according to a report.
UBS, Credit Suisse among banks facing US probe into Russia sanctions
As the Justice Department investigates whether financial professionals helped Russian oligarchs evade sanctions, subpoenas also went to employees of some major US banks.
Federal Reserve raises interest rates by a quarter percentage point
It’s the second straight rise of 25 basis points following a string of aggressive moves starting in March 2022, when rates were near zero.
UBS swallows Credit Suisse, still eyes growth in US
The UBS deal to acquire its banking rival, along with the continued drop in the share price of First Republic Bank, could mean a further shake-up in the US wealth management market.
First Republic stock falls in early trading after S&P cuts rating for second time
The rating agency lowered the bank's long-term issuer credit rating to B+ from BB+, having already downgraded the lender to junk last Wednesday.
Credit Suisse stock sinks on restructuring plan
The bank will raise $4 billion to fund a years-long reshaping that includes carving out its investment bank and slashing its head count by 9,000.
Credit Suisse offers $3 billion debt buyback to soothe investors
The announcement signals the bank's confidence that it has enough liquidity to take advantage of the recent slump in debt markets.
Credit Suisse fears fail to rattle US wealth management market, for now
The Swiss bank pulled out of the US financial advisory business in 2015 when it shuttered its private banking unit here.
Credit Suisse attempts to reassure markets backfire as stock hits fresh low
CEO Ulrich Koerner had sought to calm employees and the markets over the weekend only to see his carefully worded memo have the opposite effect.
Credit Suisse clash over tycoon’s trust catches industry attention
A win for Bidzina Ivanishvili against Credit Suisse Trust (Singapore) Ltd. may force a major rethink of how and when trust operators flag unusual transactions or other shady practices.
State Street falls after report it may acquire Credit Suisse
Swiss blog says State Street could make an offer for bank. State Street says it’s focusing on Brown Brothers purchase.
SEC pries into over 100 traders’, bankers’ phones in texting probe
The agency has been sending firms lists of key positions including heads of certain investment banking teams or trading desks.
Finra fines Credit Suisse $9 million for losing control of client securities
The broker-dealer self-regulator also punished the firm for inaccurate and omitted conflict disclosures in research reports.
Credit Suisse ordered to pay former brokers about $10 million
The decision by Finra arbitrators is another win for advisers who say the firm owes them money after an October 2015 decision to shut its U.S. private bank.
Credit Suisse grabs $1 billion in assets with new mobile app
The Switzerland-based private bank designed its latest mobile app, dubbed CSX, to address all financial services needs in a single smartphone app and has tacked on 100,000 new clients in the process.
Credit Suisse to exit prime services, pivot to wealth
The bank is exiting the hedge fund business after the implosion of Archegos cost it billions of dollars and will shift more resources to wealth management.
Wall Street banks summoned by regulators over Hwang’s blowup
The Securities and Exchange Commission summoned the banks for hasty meetings on what triggered the forced sale of more than $20 billion of stocks linked to Hwang’s Archegos Capital Management.
