DUBAI–Saudi Arabia’s biggest bank will soon be the largest investor in Credit Suisse AG CS 4.07% and wants to bring the Swiss lender deeper into the kingdom’s booming financial markets while expanding ties with wealthy Middle Easterners. “We think it would be synergistic for both sides if we could get them more involved in the … Read more
Michael Klein has been a matchmaker to some of the world’s most powerful companies and investors since leaving Citigroup Inc. more than a decade ago. Now, he has found his own match—as soon-to-be chief executive of Credit Suisse CS 2.74% Group AG’s newly incarnated investment banking unit, CS First Boston—in a third act that enables … Read more
For the brave, this could be the time to buy Credit Suisse. CS -19.52% For the more risk-averse, the bank’s ability to attract capital this quarter will serve as a crucial proof point for its recovery. The beleaguered Swiss company unveiled its latest overhaul on Thursday alongside a big third-quarter loss, mostly due to a … Read more
London CNN Business — Credit Suisse will raise $4 billion to step back from Wall Street and double down on managing the finances of the world’s wealthy, the scandal-plagued Swiss bank said on Thursday. The company unveiled a “radical” turnaround plan that it said would leave it “a stronger, more resilient and more efficient bank.” … Read more
Swiss credit the second-biggest Swiss lender after UBS said it would cut jobs and spin off its investment banking business as it reported a loss of 4 billion francs ($4 billion) for the third quarter. The company also intends to raise $4 billion by selling shares as part of what Chairman Axel Lehmann called a … Read more
Credit Suisse Group AG CS -1.03% said it would raise $4 billion in fresh capital from a Saudi bank and other investors to fund a retreat from Wall Street and recover from a near-existential crisis. The Swiss bank said it would sharpen its market trading businesses and rebrand its capital markets and advisory business as … Read more
Credit Suisse CS -1.03% Group AG is nearing a deal to sell its securitized products group to heavyweight investor Apollo Global Management Inc. APO -0.31% and Pacific Investment Management Co. as part of a retreat from Wall Street, people familiar with the matter said. The Swiss bank is set to provide details of the sale … Read more
Credit Suisse is set to provide details of the sale and other measures for a planned strategy change on Thursday. Photo: Stefan Wermuth/Bloomberg News Credit Suisse CS -1.03% Group AG is nearing a deal to sell its securitized products group to heavyweight investor Apollo Global Management Inc. APO -0.31% and Pacific Investment Management Co. as … Read more
Credit Suisse CS 1.38% Group AG is in the process of finalizing the sale of a key unit, just days before the beleaguered Swiss bank is due to provide details of a revamp of its large Wall Street arm. The Swiss bank is selling billions of dollars worth of assets to help pay for a … Read more
Twitter Inc. TWTR -0.43% The on-again-off-again deal between Elon Musk and Twitter is somewhere between on and off again. The billionaire offered on Monday to review his original $44 billion deal to acquire the social media company. But on Thursday, a Delaware judge presiding over the clash postponed a trial in the case, giving both … Read more