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LATEST ARTICLES
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Emerging markets have bounced back impressively from an early-year slump that had threatened to turn into a full-blown crisis. But there are still plenty of questions about prospects for emerging nations and related banking revenues.
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Strobaek joined Credit Suisse in May 2013 from a Swiss family office, where he was the CEO, the CIO and a managing partner. Between 1996 and 2009 he was with UBS.
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It was a dank, dark autumn morning. My alarm shrilled and I stumbled into the kitchen to brew a pitch-black espresso. On auto-pilot, I reached over and switched on CNBC. Someone was lamenting the most recent "disappointing" set of Credit Suisse earnings. "Same old, same old," I thought to myself as I grumpily switched off the television.
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Regulators and shareholders are channelling their concerns over banks’ slow progress in shifting to new and sustainable business models to a new cadre of activist chairmen. Often experienced in the industry, independent of executive management and with strong personalities, these chairmen are increasing the pressure on bank CEOs to abandon unrealistic ambitions and reshape their banks to a new world. Expect more ructions ahead.
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Can Credit Suisse’s newly promoted CEO of Brazil, José Olympio Pereira, maintain his own and his bank’s high standing in equity capital markets? Euromoney interviews Olympio to find out.
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Brady Dougan is meant to be an excellent manager and people enjoy working for him.
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The Facebook IPO no doubt cast a pall on the summer sunshine for senior Morgan Stanley executives. However, another bank that has had a torrid time recently is Credit Suisse. This is a little unexpected. The bank was a distinct winner from the 2008 crisis: it did not take government money and seemed to adapt quickly to the changing environment. However the share price performance in the past two years has been disastrous – it is down more than 60% since early August 2010 and now trades below its 2009 trough, close to a two-decade low. Other leading global banks have suffered, but not as much. Over the same period, JPMorgan’s share price is down by some 10% and HSBC shares are about 15% lower.
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The bank's chief executive Brady Dougan is under sustained attack internally and from disaffected shareholders amid financial pressure, a three-notch credit downgrade and a projected wave of job cuts.
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Credit Suisse’s Q4 loss and disappointing return for 2011 says as much about the state of the industry as it does about the bank.
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Credit Suisse maintained its reputation for bonus structure creativity when times are tough with its recent move to make payments to some staff in the form of bonds linked to its own derivatives counterparty exposure. The paper will offer healthy coupons of 5% in Swiss francs or 6.5% in dollars, but without the upside offered by the original Partner Asset Facility (as it was dubbed) from 2008, which delivered a return of 70% by giving staff exposure to toxic mortgage and high-yield debt assets that had collapsed in price but later recovered value.
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A surprise for some as Credit Suisse posts a loss, after adhering to regulatory capital requirements and paring down risk-weighted assets
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Credit Suisse posted a loss for Q4 and a disappointing return for 2011 as a whole. But this says as much about the state of the industry as it does about the bank itself
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Some clear trends emerge from this year’s results. Notable among them is the leadership of local private banks in the key global battlegrounds of two of the fastest-growing markets. With global banks facing regulatory and business challenges, local specialist wealth managers are gaining ground in both developed and emerging markets.
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The complaint filed by the SEC at the New York Federal Court on Wednesday against four ex-Credit Suisse employees provides another fascinating insight into the chaos that erupted across fixed-income trading desks, as the seizure of the short-term funding markets in mid-2007 began to ricochet through to the shaky edifices of structured finance that had been built upon them.
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Merges EM fixed income with FX; Shooter in, Weidmann out.
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Swiss investment bank axes hundreds more jobs in investment banking to concentrate on the less risky private banking business
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Swiss bank won’t replace senior staff departures in Dubai as it expects Middle East business volumes to decline
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Strong demand from conventional investors; regulatory support, hunger for yield, a simple structure and clever timing.
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Strong demand from conventional investors promises bright future for new-style bank capital; regulatory support, hunger for yield, a simple structure, and clever timing are keys to success.
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Some readers derided my story in last November’s column where I asked: “Is it bonfire night or bonfire of the vanities at Credit Suisse?” I criticized the bank for its recent compensation payouts against a backdrop of poor share performance and disappointing third-quarter results.
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Brady Dougan trumps the banking sector.
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On the table in his office on New York’s Park Lane Paul Calello, chairman of Credit Suisse’s investment bank, has a child’s toy.
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With its successful execution on a new strategy, and high returns on a low-risk model, Credit Suisse is arguably the best-run bank in the world today.
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Varvel becomes CEO as Calello steps up to chairman; Kyriakos-Saad and Quintella get bigger regional roles.
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Credit Suisse’s Performance Incentive Plan (PIP) paid out and some lucky bankers became very rich indeed. I’m not talking 'buy a magnum of champagne' rich.
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The recent announcement of net new inflows of Sfr44.2 billion, on top of group net income of Sfr6.7 billion for 2009, shows that a strategy of integration is paying rich dividends for Credit Suisse, sending wealth management business storming past arch rivals UBS to take the top spot in Euromoney's private banking rankings. Can the bank retain its momentum?
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Ask a senior executive at Credit Suisse to provide you with some colour, and more likely than not they will quickly segue into a new realm of detail.
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Brady Dougan and Paul Calello stripped down Credit Suisse’s investment banking vehicle as the credit crisis hit. Now they’re showing off a streamlined, non-polluting, yet powerful firm that even their competitors admire. Is Credit Suisse the model of a new investment bank? Clive Horwood reports.
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We must apply the lessons of the crisis.