Credit Suisse

First Boston, was a New York-based bulge bracket investment bank, founded in 1932 and acquired by Credit Suisse in 1990. Together with its sister investment banks, it was referred to as CS First Boston after 1993 and part of Credit Suisse First Boston after 1996. The First Boston part of the name was phased out by 2006.

First Boston

Credit Suisse Group AG is a holding company, which engages in the provision of financial services. It operates through the following four divisions: Wealth Management, Investment Bank, Swiss Bank and Asset Management and four geographic regions: Switzerland, Europe, the Middle East and Africa (EMEA), Asia Pacific, and Americas. The Wealth Management division offers comprehensive wealth management and investment solutions, tailored financing, and advisory services to ultra-high-net-worth (UHNW) and high net-worth (HNW) individuals and external asset managers. The Investment Bank division offers a broad range of financial products and services focused on client-driven businesses and also supports Credit Suisse’s Wealth Management division and its clients. The Swiss Bank division offers comprehensive advice and a wide range of financial solutions to private, corporate, and institutional clients in Switzerland. The Asset Management division offers investment solutions and services globally to a broad range of clients, including pension funds, governments, foundations and endowments, corporations, and individuals. The company was founded by Alfred Escher on July 5, 1856 and is headquartered in Zurich, Switzerland.

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The head of equities sales and trading at Credit Suisse is stepping down, according to a person with knowledge of the move, as the bank grapples with what could be a loss totalling in the billions tied to the blowup of Archegos Capital Management.  Equities chief Paul Galietto joined Credit Suisse in 2017 and previously worked as the bank's global head of prime services and head of Americas equities. A spokesperson declined to comment on Monday.

Credit Suisse's head of equities trading is stepping down as the bank braces for a huge hit from the Archegos collapse

Credit Suisse will announce the departure of two senior executives and detail how much it expects to lose through its exposure to family office Archegos in an investor update Tuesday, sources familiar with the matter said.

Credit Suisse investment bank head, chief risk officer to depart: sources

The Credit Suisse managing directors who dialed into a call last Monday afternoon with the bank's chief executive and head of investment banking could not conceal their frustration. CEO Thomas Gottstein and investment banking chief Brian Chin had convened the conference to take questions about how they planned to contain losses stemming from the spectacular blowup of Archegos Capital Management, one of the Swiss bank's clients. At Archegos, a family office founded by the hedge-fund billionaire Bill Hwang, $8 billion in assets were vaporized when massive, concentrated bets held in swaps positions suddenly moved against it.

Credit Suisse's top bankers are demanding answers from their CEO after the Swiss bank screwed up yet again (CS)

Leaders at Switzerland-based Credit Suisse are discussing replacing chief risk officer Lara Warner, after the bank was caught up in several high-profile incidents, leading to large potential losses, Bloomberg reported. The outlet cited people briefed on the matter. Despite chief executive officer Thomas Gottstein's commitment to a clean slate in 2021, after a previous spying scandal at the bank, Credit Suisse has been one of the worst-performing major bank stocks in 2021.

Credit Suisse is reportedly weighing the replacement of high-profile executives, including its risk chief, following Greensill and Archegos crises

Credit Suisse shares edged higher on Thursday, ending a losing streak in which they shed close to a fifth of their value, though the lender is yet disclose how much it lost in trades for stricken U.S. fund Archegos.

Credit Suisse shares rally while Archegos ripples spread

The walking disaster area that is Credit Suisse is intending to recompense more investors burnt by the Swiss bank's exposure to belly-up Greensill Capital. News agency Reuters reports that the bank closed around US$10bn of funds that had bought notes from Greensill Capital, the supply chain financing outfit.

Credit Suisse feeling the heat

Nomura Holdings

Deficiencies in risk management processes result in outlook downgrade for Credit Suisse Group (CS) & Nomura Holdings' (NMR) by Moody's.

Credit Suisse (CS) & Nomura (NMR) Outlook Downgraded by Moody's

Credit Suisse plans to return more cash to investors in $10 billion worth of supply chain finance funds linked to stricken Greensill in early to mid-April, the Swiss bank said.

Credit Suisse expects to recover most investments linked to Greensill

Credit Suisse told investors the debt in its $7.3 billion finance fund was low risk because it was insured but the bank failed to ensure the policies would pay out, two sources told Reuters.

Greensill insurance mystery turns up the heat on Credit Suisse

Ties to Archegos has put Credit Suisse Group AG in the crosshairs with a key ratings agency raising the warning flag.

Credit Suisse hit with S&P ratings cut on Archego ties

S&P Global Ratings downgrades outlook on Credit Suisse (CS) to negative as the Swiss bank expects to take a major financial hit on account of the Archegos Capital Management crisis.

Credit Suisse's (CS) Outlook Downgraded on Archegos Default

Credit Suisse Group AG (NYSE: CS) shares were trading down again Wednesday amid lingering uncertainty related to the bank's exposure to Archegos Capital Management. That dynamic prompted one analyst to cut his price target for Credit Suisse for the second time in three days.

BofA Cuts Credit Suisse Price Target For Second Time In 3 Days

Shares in Nomura and Credit Suisse fell further on Wednesday, with a collective $9 billion wiped off their market value so far this week as the banks braced for big losses from the blow-up of U.S.-based hedge fund Archegos Capital.

Hedge fund fallout wipes over $9 billion from market value of Credit Suisse, Nomura

Credit Suisse is expected to lose billions due to the Archegos Capital episode. The consequences for CS are far beyond just the financial loss.

Credit Suisse: The Archegos Capital Fallout And Buying The Dip

By Matt Scuffham, Elizabeth Dilts Marshall and Brenna Hughes Neghaiwi

In Archegos fire sale, Credit Suisse, Nomura burned by slow exit

Goldman Sachs

Morgan Stanley

Wells Fargo

Collapse of Archegos has reportedly prompted SEC and FCA inquiries into Credit Suisse, Goldman Sachs, Nomura and others

Top banks could be investigated over $20bn fire sale of hedge fund assets

First-quarter results of Credit Suisse (CS) and Nomura (NMR) will likely reflect the impact of Archegos defaulting on its margin call.

Credit Suisse (CS), Nomura (NMR) to be Hit by Archegos' Default

Credit Suisse Group AG (CS) has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock.

Credit Suisse (CS) is Oversold: Can It Recover?

Pressure was mounting on Credit Suisse on Tuesday over losses linked to the downfall of Archegos Capital, with analysts warning its dividend and share buyback plans may need to go on hold and investors advised to vote against management pay.

Credit Suisse in firing line after Archegos losses

Credit Suisse shares edged higher Tuesday, after slumping 14% on Monday when it warned of a significant loss from a margin call of a U.S. client believed to be Archegos Capital Management. Berenberg analyst Eoin Murray cut his 2021 earnings per share estimate by 47%, and 2022 EPS view by 6%, incorporating a 3 billion franc loss on the U.S. fund and a 500 million franc hit from Greensill.

Credit Suisse shares crawl higher after Monday drop; one analyst cuts EPS view by 47%

Goldman and Morgan Stanley had already finished unloading their positions when rivals announced they faced steep losses tied to a hedge fund implosion.

How Goldman and Morgan Stanley avoided losses after fund meltdown burned Nomura, Credit Suisse

A massive selloff sparked by derivative trades made by Archegos Capital Management is wreaking havoc on Wall Street.

How Goldman And Other Wall Street Giants Loaned Billions To Someone Who Traded Like A Meme Stock Gambler

Financial institutions Nomura and Credit Suisse faced billions of dollars in losses after a highly leveraged U.S. investment fund called Archegos Capital defaulted on margin calls, triggering a fire sale of stocks on Friday, a source familiar with the matter said.

Factbox: Biggest blowups among financial funds

Losses that triggered the liquidation of positions approaching $30 billion in value bring to light complicated financial instruments used by European investors that are effectively banned in the U.S. but could still have spillover effects domestically.

Market Extra: Here are the complex bets at the heart of ‘unprecedented' Archegos-linked $30 billion margin call

A forced hedge fund liquidation that started last week hit global investment banks Credit Suisse and Nomura on Monday after they warned of financial troubles as a result of the blowup. Nomura shares fell a record 16 percent on Monday as Credit Suisse's shares dropped 15, its biggest fall since the pandemic struck last March.

News for Credit Suisse Stock (CS)