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…
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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,…
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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…
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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…
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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,…
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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…
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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…
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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…
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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…
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The SEC highlighted that this stems from Credit Suisse's deficient internal accounting controls. The failed to properly address significant and known risks concerning bribery. Gurbir S. Grewal, Director of the SEC’s Division of Enforcement said: When it comes to cross-border securities law violations, the SEC will continue to work collaboratively with overseas law enforcement and…
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