Annonce • Jun 05
Credit Suisse Shares & ADS to Delist from SIX & NYSE UBS expects to complete the acquisition of Credit Suisse as early as 12 June 2023. At that time, Credit Suisse Group AG will be merged into UBS Group AG. Completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the US Securities and Exchange Commission, and to satisfaction, or waiver by UBS, of other remaining closing conditions. Upon completion, Credit Suisse shares and American Depositary Shares (ADS) will be delisted from the SIX Swiss Exchange (SIX) and the New York Stock Exchange (NYSE). Credit Suisse shareholders will receive one UBS share for every 22.48 outstanding shares held. The exchange of Credit Suisse ADS may be subject to certain fees. Annonce • May 06
UBS Weighs Options for Sale of Credit Suisse's Swiss Unit UBS Group AG (SWX:UBSG) is reviewing options for Credit Suisse Group AG's (SWX:CSGN) Swiss bank, including potentially keeping the unit's investment banking operations while selling the rest, two people familiar with the matter told Reuters. UBS is studying plans to sell the Swiss banking business of Credit Suisse in an initial public offering (IPO) after taking over its smaller rival, the people said, speaking on condition of anonymity. The considerations are at an early stage as UBS is focused on completing that takeover and it may not make a final decision on whether to pursue an IPO for months, another person said. UBS and Credit Suisse declined to comment. UBS Chief Executive Sergio Ermotti said on May 03, 2023 that his bank was working on closing its merger with Credit Suisse by the end of May or early June. On a possible sale, Ermotti has said all options for the Swiss business are on the table. On Sunday, NZZ am Sonntag newspaper reported that UBS was working towards spinning off Credit Suisse's domestic unit. The Swiss newspaper cited a source as saying that UBS had come around to the idea of a spin-off, which it initially ruled out, because of growing public and political pressure. Annonce • Feb 09
Credit Suisse Group AG to Report Q4, 2022 Results on Feb 09, 2023 Credit Suisse Group AG announced that they will report Q4, 2022 results at 6:45 AM, Central European Standard Time on Feb 09, 2023 Annonce • Feb 08
Apollo Global Management in Talks to Take Stake in Credit Suisse Investment-Banking Unit Apollo Global Management, Inc. (NYSE:APO) is among a group of financial firms in talks to take a stake in Credit Suisse Group AG (SWX:CSGN)’s revamped investment bank, people familiar with the matter said. Credit Suisse said in the year 2022 that it would carve out the advisory part of its investment-banking operation into a new entity under the resurrected CS First Boston brand following a string of scandals. The bank said it would raise outside capital to launch the new entity, which it hopes to list in a separate initial public offering eventually. The talks with Apollo are continuing and could fall still apart. An investment in CS First Boston would represent another level of commitment from Apollo, which had previously agreed to take over Credit Suisse’s securitized-products group, which packages and resells debt. The size of the potential stake couldn’t be learned. Credit Suisse said in the year 2022 that it had secured $500 million from an unnamed investor, and Chairman Axel Lehmann said in December a few offers were on the table to help finance CS First Boston’s leveraged-finance business. The CS First Boston spinoff, based in New York, offers Credit Suisse a chance to revive a troubled unit and smooth out the volatility of its earnings, bank executives say. Some employees who might have left said they are staying to see if Michael Klein, CS First Boston’s Chief Executive Officer designate and a veteran deal maker, can pull the division out of a slump. The revived CS First Boston will focus on parts of the investment-banking business that require less capital, such as advising companies on mergers and acquisitions. Credit Suisse has said it would keep some markets-trading businesses to assist its wealthy clients, divest the securitized-products division to Apollo and move other businesses to a noncore unit. Bond manager Pacific Investment Management Co. is also considering taking a stake in the securitized-products business, people familiar with the matter said. Annonce • Jan 18
Credit Suisse Appoints Edwin Tan as the New Head in the Philippines, Thailand and Vietnam Credit Suisse has announced a promotion. Edwin Tan, market leader for wealth management in Thailand, has been appointed as the new head in the Philippines, Thailand and Vietnam. He is to continue to be based in Thailand. Annonce • Jan 11
Credit Suisse Reportedly Nears Deal to Buy Michael Klein's Advisory Firm Credit Suisse Group AG (SWX:CSGN) is close to an agreement to buy Michael Klein’s advisory boutique after several rounds of tense negotiations, according to people briefed on the talks. As part of the expected agreement that’s been hashed out in recent days, the bank will value the firm founded by the incoming head of its First Boston spinout at around a few hundred million dollars, said the people, who asked not to be identified as talks are private. The Swiss firm engaged Deutsche Bank AG to provide a fairness opinion, two of the people said. Annonce • Dec 14
Credit Suisse Appoints Florian Haab as Head for New Zurich Unit Credit Suisse has appointed a new head for its unit in Zurich. Florian Haab has been appointed to the position from UBS AG. He is joining as head of corporate client business and will be posted in the newly created Zurich South market area. Haab worked for UBS AG for 15 years in corporate banking. Annonce • Dec 07
Saudi Prince Reportedly Backs Credit Suisse Spin-Off Saudi Arabia's crown prince and a US private equity firm run by Barclays' former Chief Executive are among investors preparing to invest $1 billion ($1.46 billion) or more into new investment bank of Credit Suisse Group AG (SWX:CSGN), sources said. Crown Prince Mohammed bin Salman is considering an investment of around $500 million to back the new unit, CS First Boston, and its Chief Executive Officer-designate, Michael Klein, they said. Additional financial backing could come from US investors including Atlas Merchant Capital LLC. Credit Suisse previously said it has $500 million committed from an additional investor it hasn't named. Credit Suisse has received a number of proposals from investors interested in CS First Boston. Credit Suisse chairman Axel Lehmann, at a conference on December 1, 2022, said it had other firm commitments in addition to the $500 million from the unnamed investor. The bank hadn't received a formal proposal from any Saudi entity, sources said. Credit Suisse is spinning off the New York-based investment bank as part of a fresh start after being buffeted by scandals, regulatory scrutiny and steep losses. It is raising $4.2 billion in new stock that separately will make Saudi National Bank its largest shareholder. It isn't clear if Prince Mohammed will make the investment through that bank, or another investment vehicle. Annonce • Dec 06
Credit Suisse Group AG announced that it expects to receive $1 billion in funding from Atlas Merchant Capital LLC Credit Suisse Group AG announced a private placement of $1,000,000,000 on December 5, 2022. The transaction will include participation from Atlas Merchant Capital LLC for $500,000,000 and Crown Prince Mohammed bin Salman for $500,000,000. Annonce • Nov 24
Credit Suisse Group AG Provides Group Earnings Guidance for the Fourth Quarter of 2022 Credit Suisse Group AG provided group earnings guidance for the fourth quarter of 2022. The company would expect the Investment Bank and the Group to report a substantial loss before taxes in the fourth quarter 2022, of up to CHF ~1.5 billion for the Group. Annonce • Nov 18
Credit Suisse Reportedly Considers Selling Stake in Lugano Wealth Manager Credit Suisse Group AG (SWX:CSGN) is considering selling its stake in Copernicus Wealth Management SA, Citywire Selector’s sister site Citywire Switzerland has learned. According to a source familiar with the matter, this could happen by the end of 2022 or at the beginning of 2023. Credit Suisse confirmed to Citywire that it currently owns 4.9% of Copernicus but declined to comment on whether it would sell its holding. Copernicus did not comment either. Credit Suisse has owned a stake in Copernicus since the latter was founded but reduced the holding to its current level in 2020, the source added. Annonce • Nov 11
Credit Suisse Asset Management Appoints Damian Burkhardt as Head of Swiss Equities, Effective 1 January 2022 Credit Suisse Asset Management has announced the appointment of Damian Burkhardt as head of Swiss equities. Burkhardt will start on 1 January. He will report to Christoph Bieri, who oversees the entire equities Switzerland team, which also includes Swiss indirect real estate. The team manages assets of approximately CHF 7 billion. Burkhardt previously worked at Lombard Odier Investment Managers and BlackRock Private Equity Partners in senior roles. At Lombard Odier he was a portfolio manager for Swiss, European and thematic equities. Annonce • Nov 03
Qatar Investment Authority Reportedly Plans to Raise Stake in Credit Suisse The Qatar Investment Authority plans to increase its stake in Credit Suisse Group AG (SWX:CSGN) by investing in a share sale alongside the Saudi National Bank, according to people with knowledge of the talks. The SNB will be joined by two other investors in the share placement, including QIA. One person with knowledge of the deal said the third investor was a Swiss group, though not a rival bank. Credit Suisse and the QIA declined to comment. Annonce • Nov 02
Credit Suisse Appoints Christopher Horne as Chief Executive of Credit Suisse International and UK Country Head Credit Suisse announced has promoted long-serving dealmaker Christopher Horne to lead its business in the UK. Horne has taken over as chief executive of Credit Suisse International and UK country head. Annonce • Oct 29
Credit Suisse Group AG announced that it expects to receive CHF 1.5 billion in funding from The Saudi National Bank Credit Suisse Group AG announced that it has received commitment for CHF 1.5 billion from new investor, The Saudi National Bank for 9.9% stake on October 27, 2022. Annonce • Oct 27
Credit Suisse Reportedly Nears Sale of Securitized-Products Group to Apollo, Pimco Credit Suisse Group AG (SWX:CSGN) is nearing a deal to sell its securitized-products group to heavyweight investors Apollo Global Management, Inc. (NYSE:APO) pointing triangle and Pacific Investment Management Company LLC (Pimco) as part of a retreat from Wall Street, people familiar with the matter said. The Swiss bank is set to give details of the sale, and other measures for a planned strategy change. The securitized-products group underwrites financing and packages up mortgage bonds and other securities for resale. It generated high returns but Credit Suisse executives said in July it wasn’t a good fit with its envisioned future shape. Two bidding groups emerged as the favorites for the business, The Wall Street Journal earlier reported. One consortium included Pimco, a big bond manager, and Apollo, a large alternative asset manager. It beat out a second group composed of Centerbridge Partners and Martello Re Ltd., a life and reinsurance company, according to some of the people familiar with the effort. One of the biggest disposals is Credit Suisse’s New York-based securitized-products group. The bank said in July 2022 it would sell all or part of the unit. Terms of the impending deal couldn’t be learned. Credit Suisse is likely to keep a part of the business following the sale as some of it services other bank activities, some of the people said. The group’s assets, infrastructure and teams will move to the new owners, one of them said. In addition to divesting the securitized-products group, Credit Suisse will exit from more than two dozen smaller wealth markets and put some assets in a resolution unit, the Journal previously reported. Annonce • Oct 22
Credit Suisse U.S. Asset Manager Reportedly Draws Interest from Janus, Blue Owl, Others Money managers such as Janus Henderson Group plc (NYSE:JHG) and investment firms including Blue Owl Capital Inc. (NYSE:OWL) are weighing potential offers for U.S. asset management unit of Credit Suisse Group AG (SWX:CSGN), people familiar with the matter said on October 21, 2022. The Swiss bank is seeking buyers for the business as part of a multi-pronged effort to revise its strategy and raise capital following a string of scandals and financial setbacks. Janus and rival asset manager AllianceBernstein Holding L.P. (NYSE:AB), and Blue Owl as well as private equity firms Centerbridge Partners, L.P. and Clearlake Capital Group, L.P. are considering bids, the sources said. Other asset managers considering participating in Credit Suisse's auction process include Ameriprise Financial, Inc. (NYSE:AMP) and Invesco Ltd. (NYSE:IVZ), one of the sources added. The unit may fetch around $2 billion in a sale, according to the sources, who cautioned that no deal is certain. They requested anonymity because the matter is confidential. Credit Suisse, Blue Owl, Clearlake, Invesco and Janus Henderson declined to comment. AllianceBernstein, Ameriprise, and Centerbridge did not immediately respond to a comment request. Annonce • Oct 19
Credit Suisse Announces Appointment of Jasmin Argyrou as Head of Discretionary Portfolio Management for Its Australian Wealth Management Unit Credit Suisse announced that it has appointed a head of discretionary portfolio management (DPM) for its wealth management unit in Australia. Jasmin Argyrou has been named by the Swiss bank to the position. She would retain her current role as head of fixed income and economics. Argyrou has over 20 years of experience in investment strategy and portfolio management. She joined the Swiss bank three years ago. Annonce • Oct 15
Credit Suisse Reportedly Considers Allfunds Disposal Credit Suisse Group AG (SWX:CSGN) is considering selling its stake in Allfunds Group plc (ENXTAM:ALLFG) to raise cash, Spanish newspaper Cinco Dias reported on October 14, 2022, citing unidentified market sources. A spokesperson at Credit Suisse declined to comment and an Allfunds representative did not respond immediately to a request for comment. Annonce • Sep 30
Credit Suisse Appoints Jing Wang as Head of Its Chinese Securities Joint Venture Credit Suisse Group AG has appointed a CEO for its joint venture in China. The firm has announced that it has appointed Jing Wang as head of its Chinese securities joint venture. Wang itto take over as CEO immediately. Annonce • Sep 24
Credit Suisse Considering Latin American Operations Sale Credit Suisse Group AG (SWX:CSGN) is considering the sale of its operations in Latin America other than Brazil. The plan comes following a broader review of its operations. The Swiss bank is undergoing a planned restructuring after it incurred losses and hits to reputation. The firm is now said to be in contact with potential buyers for its operations in countries such as Mexico and Colombia. Annonce • Sep 23
Credit Suisse Reportedly Looks to Sell Profitable Units Credit Suisse Group AG (SWX:CSGN) has drawn up plans to split its investment bank in three, the Financial Times reported on September 22, 2022, as the Swiss lender attempts to emerge from three years of relentless scandals. Under proposals to the board, the bank is looking to sell profitable units such as its securitised products business to prevent a damaging capital raise, the report said, citing people familiar with the plans. Credit Suisse declined to comment on the story when contacted by Reuters. The proposals could see the investment bank split into three parts: the group's advisory business, which might be spun off at some later point; a "bad bank" to hold high-risk assets that will be wound down; and the rest of the business. "We have said we will update on progress on our comprehensive strategy review when we announce our third-quarter earnings," the newspaper report quoted Credit Suisse as saying. "It would be premature to comment on any potential outcomes before then." Chair Axel Lehmann had appointed Ulrich Korner as chief executive officer in the summer with a brief to carry out a radical shake-up of the bank, which has been hit by a corporate spying scandal, investment fund closures, a record trading loss and a litany of lawsuits in recent years, the report said. Annonce • Sep 08
The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) and Gasser Partner Rechtsanwälte agreed to acquire Credit Suisse Trust AG. The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) and Gasser Partner Rechtsanwälte agreed to acquire Credit Suisse Trust AG from Credit Suisse Group AG (SWX:CSGN) on September 6, 2022. Under separate agreements, Butterfield will acquire CST’s businesses based in Guernsey, Singapore, and The Bahamas, while Gasser Partner will acquire CST’s Liechtenstein business. The transaction with Butterfield is expected to close in the first half of 2023 and is subject to customary conditions, including regulatory approvals. The transfer of the trust structures in Liechtenstein will occur on a rolling basis and is also expected to complete in the first half of 2023. Upon completion of the transactions, Butterfield and Gasser Partner will take over the ongoing management and administration of most of the trust structures in the respective jurisdictions. A significant portion of CST’s employees are expected to transfer to Butterfield. Annonce • Aug 31
Credit Suisse Hires Shak Thakur as a Managing Director for its Technology Investment Banking Business Credit Suisse announced the appointment of an MD for technology banking. According to Bloomberg, the Swiss bank has hired Shak Thakur as a managing director for its technology investment banking business. Thakur is to be based in San Francisco to attend to his role. Thakur was most recently a vice president at telecommunications networking equipment at software company, Ciena Corp. Annonce • Aug 18
Credit Suisse Appoints James Purcell to Head of Sustainability Framework Credit Suisse has appointed James Purcell to head for its sustainability framework. In the role, Purcell and his team will work on providing customers with more sustainable investment options. Annonce • Aug 03
Credit Suisse Appoints Peter Hoiser as Global Head of Asset Servicing Credit Suisse has appointed a global head of asset servicing. The firm has appointed Peter Hoiser as global head of asset servicing. He is to be based in Zurich and has more than 25 years of experience in financial services. Hoiser was earlier managing director, head of operations control and regulatory control at MUFG. Annonce • Jul 11
Credit Suisse Group AG to Report Q4, 2022 Results on Feb 09, 2023 Credit Suisse Group AG announced that they will report Q4, 2022 results at 6:45 AM, Central European Standard Time on Feb 09, 2023 
