Credit Suisse Group Stock News

Credit Suisse warned on Tuesday that it was likely to make a net loss in the fourth quarter as the scandal-hit lender flagged fresh legal costs and said business in its trading and wealth management divisions had slowed.

The profit warning comes after a series of high-profile scandals that have rocked the bank in recent years.

The Federal Reserve's first meeting of 2022 kicks off Tuesday, and investors will watch for the latest on the central bank's inflation game plan.

António Horta-Osório resigned last week after bank looked into alleged repeated breaches of Covid rules

A U.S. regulator on Thursday fined a unit of Credit Suisse Group AG $9 million for violating multiple laws and rules protecting investors, including ones involving potential conflicts of interest and the safeguarding of customer funds.

Genius Sports Limited shoots higher after Credit Suisse starts off coverage with an Outperform rating. Read more.

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The firm initiated work on its IPO last week and has hired investment banks ICICI Securities Ltd, JM Financial Ltd, Jefferies Group Llc, and Credit Suisse Group AG to work in its draft IPO papers

United and American Airlines earnings offer outlook on travel, airline CEOs warn of catastrophic disruption from 5G rollout, Credit Suisse chairman resigns after Covid-19 rules breach, and other news to start your day.

Credit Suisse In Turmoil As Chairman Resigns Over COVID Violations After Just 8 Months That didn''t take long. In less than a year, Credit Suisse Chairman António Horta-Osório has gone from new hire to freshly fired, as the Swiss megabank has decided to sack its chairman of the board, effective immediately. Horta-Osório was fired due to "COVID-related" violations, including a trip to Wimbledon last year which purportedly violated company quarantine rules. We must admit - this seems like a pretty lame excuse to fire a board chairman, especially considering that Horta-Osório didn''t even take over until after the twin scandals of Archegos and Greensill that made 2021 a historically bad year for Credit Suisse. Hopefully, as one banking analyst suggested, Horta-Osório may ultimately become a "footnote" in Credit Suisse''s long, storied history. But the bank''s reputation is still very much in the recovery stage, since nearly 10 billion in losses takes a long time to truly forget. António Horta-Osório The biggest problem now is that the bank doesn''t have much of a bench when it comes to its next generation of leaders.

Credit Suisse will stick to its strategic overhaul despite the abrupt departure of its mastermind Antonio Horta-Osorio following an internal probe into his personal conduct, including breaches of COVID-19 rules, the embattled bank''s new chairman said on Monday.

Credit Suisse says its chairman, Antonio Horta-Osorio, has resigned following an internal probe that reportedly turned up that he had violated quarantine rules intended to fight the COVID-19 pandemic

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Credit Suisse Group AGs Chairman Antonio Horta-Osorio resigned after just nine months in the role, following a series of missteps including reported breaches of Swiss and UK quarantine rules that eroded confidence in his leadership ( Bloomberg ).