Credit Suisse fixed the issue with an update of its trade reporting systems in November 2019. In addition, form February 2015 to April 2022, the firm failed to establish and maintain a supervisory system to help it comply with its trade reporting obligations for short sales. During this period, Credit Suisse conducted supervisory reviews aiming…
Read more
Robert Cielen, Head of Wealth Management for Europe at Credit Suisse, commented: This expansion is proof of our strong commitment to Germany as one of Credit Suisse Wealth Management’s priority markets and is in line with our strategy to grow our business with UHNW and entrepreneurial clients. We are excited to see Sven lead our…
Read more
Additionally, Christian Gellerstad was appointed Vice-Chair and Lead Independent Director. He will also take over from Nargolwala and serve as Chair of the Compensation Committee. Lehmann continued: I am extremely pleased that Christian Gellerstad is prepared to accept the appointment of Vice-Chair and Lead Independent Director of the Board and Chair of the Compensation Committee,…
Read more
Swiss Financial Market Supervisory Authority (FINMA) told Reuters that they are aware of the articles and compliance with anti-money laundering regulations has been the focus of the regulator for years. Credit Suisse has denied wrongdoing. The bank stated: Credit Suisse strongly rejects the allegations and insinuations about the bank’s purported business practices. The matters presented…
Read more
This customer had started placing suitcases full of cash in a safe deposit box at Credit Suisse. He was later shot dead in 2005. The prosecutors believe that Banev and his associates used a practice called smurfing. This entails breaking down a large sum of money into smaller amounts, which are below the AML alert…
Read more
Most recently, Bonacker was a senior adviser at Oliver Wyman. Prior to that, he worked at Swiss investment bank UBS as Head of Corporate Development. Bonacker also served as the Head of Asset Management and Corporate Banking at Frankfurt-based BHF bank. He has held a range roles in multiple financial institutions such as Commerzbank, McKinsey,…
Read more
According to his LinkedIn profile, most recently, Huray served as managing director of the Southeast Asian investment business of Malaysian tycoon Robert Kuok’s conglomerate Kuok Group. Prior to that, he operated the investment banking arm of Malaysian lender RHB as its CEO for almost six years from 2016 to early 2021. Earlier this month, FINRA…
Read more
Credit Suisse violations FINRA discovered that Credit Suisse failed to comply with the Securities and Exchange Commission’s Customer Protection Rule in two ways. First, the company is required to maintain possession or control of billions of dollars of fully paid and excess margin securities it carried for customers, which it failed to do. The second…
Read more
Axel Lehmann, Chairman of the Board of Directors of Credit Suisse, stated: I would like to thank the Board of Directors for the trust they have placed in me and I look forward to working even more closely with the Board and the Executive Board in the future. We have set the right course with…
Read more
António Horta-Osório, Chairman of the Board of Directors, said: I am delighted to welcome Francesco to his new role. He joins with an impressive track record and a profound knowledge of Credit Suisse and the industry, reinforcing our Executive Board at this critical junction in our journey. He will undoubtedly play a crucial role in…
Read more