Swiss investment adviser calls on Credit Suisse chairman to quit over spying scandal February 6, 2020 The head of a prominent Swiss investment adviser has called on Credit Suisse chairman Urs Rohner to step down, as a boardroom battle sparked by the bank spying on executives escalates. Rohner has been locked in a power struggle with chief executive Tidjane Thiam since the revelation in September that the Swiss lender had hired [...]
Credit Suisse shareholders back chief executive in board battle February 5, 2020 Three top Credit Suisse investors have backed chief executive Tidjane Thiam in a power struggle with chairman Urs Rohner as the Swiss bank grapples with the aftermath of a spying scandal. Relations between the pair are understood to have come under increased strain since the revelation that the bank had hired a corporate espionage agency [...]
Credit Suisse admits to spying on second executive December 24, 2019 The Credit Suisse spying saga continues as the Swiss bank admitted to having undertaken surveillance of a second senior executive. Following surveillance of the firm’s former wealth management chief, bank blamed former chief operating officer Pierre-Olivier Bouee for hiring detectives in February to track former human resources head Peter Goerke. Read more: Credit Suisse cuts [...]
Credit Suisse cuts profit targets and pivots away from coal December 11, 2019 Credit Suisse faces missed targets and losses next year, after the bank cut its profitability target for 2020. The Swiss bank expects return on tangible equity – a profitability metric – to be over eight per cent, a drop from previous expectations of 10-11 per cent. Read more: Credit Suisse profit doubles amid rise in [...]
Credit Suisse back on track as second quarter profit soars July 31, 2019 Credit Suisse today said it is on track to meet its full-year targets after posting its strongest quarterly results in four years. The bank reported pre-tax profit of 1.3bn Swiss francs (£1.1bn) in the second quarter, up 24 per cent on the previous year. Net profit attributed to shareholders soared 45 per cent to 937m [...]
HSBC to cut corporate broking ties with Goldman Sachs ending longstanding relationship June 3, 2019 HSBC has cut broking ties with Goldman Sachs, bringing an end to the pair’s long relationship. The banking giant has told the US investment bank that its corporate broking relationship will come to an end, Sky News reported. It comes after a review led by the bank’s new chief financial officer Ewen Stevenson. Goldman Sachs [...]
These are the top 25 best-paying companies in the UK May 23, 2019 A report released today has revealed that the UK's 25 highest paying company's offer staff between £61,000 and £90,000 as a median compensation package. The list by job site Glassdoor is dominated by finance and tech firms, three of which have their headquarters in the UK. John Lamphiere, EMEA managing director at Glassdoor, said: “It [...]
Inmarsat shareholders approve $3.4bn private equity takeover deal May 10, 2019 Inmarsat’s shareholders approved a $3.4bn (£2.58bn) private equity takeover today despite 21 per cent of investors attempting to vote down the deal. Read more: Inmarsat profit falls ahead of $3.4bn takeover The takeover of the British satellite operator is the second largest public-to-private deal ever in the UK, bringing an end to talks that began [...]
Confidence in UK among European business leaders has collapsed due to Brexit, says survey April 30, 2019 The confidence of European business chiefs in the UK economy has evaporated due to Brexit, causing them to slash their investment intentions, a new report by investment bank Credit Suisse has revealed. Read more: Investors withdrew savings from UK funds in lead up to Brexit deadline Over 65 per cent of European business leaders said [...]
UBS beats expectations but investment bank profits plunge 64 per cent April 25, 2019 Swiss banking giant UBS beat expectations but reported a 64 per cent profit fall in its investment bank in a “challenging" quarter. Chief executive Sergio Ermotti had set the bar low after warning of “one of the worst first-quarter environments in history,” earlier this month. Read more: UBS and Deutsche in 'serious' talks over asset [...]