Credit Suisse says new AIG chief Benmosche stepping down from bank's board after 7 yearsAugust 10th, 2009 New AIG chief leaves Credit Suisse boardZURICH —Robert Benmosche, who starts this week as the new president and CEO of American International Group Inc., has stepped down from Credit Suisse Group's board with immediate effect, the Swiss bank said Monday. The former chairman and chief executive of insurance company MetLife Inc.
New York Fed announces investor advisory group, includes execs from Pimco, Credit SuisseJuly 24th, 2009 New York Fed announces investor advisory groupWASHINGTON — The Federal Reserve Bank of New York on Friday announced the creation of an investor advisory group, part of its ongoing efforts to closely monitor economic and financial conditions. The 13-member Investor Advisory Committee on Financial Markets won't have any formal policymaking responsibilities, but will "serve as a forum for informal discussions on financial, economic and public policy issues," the New York Fed said.
Swiss bank Credit Suisse reports 29 percent rise in second quarter net profit to $1.41 billionJuly 23rd, 2009 Credit Suisse reports 29 percent rise in 2Q profitZURICH — Swiss bank Credit Suisse Group on Thursday reported a 29 percent increase in second quarter net profit after a strong performance in its investment unit drove up core revenues. The net profit of 1.57 billion Swiss francs ($1.41 billion) compared with 1.22 billion francs in the same quarter last year and matched most analysts' expectations.
Swiss bank Credit Suisse reports 29 percent rise in Q2 net profit to 1.6 billion francsJuly 23rd, 2009 Credit Suisse reports 29 percent rise in Q2 profitZURICH — Swiss bank Credit Suisse Group on Thursday reported a 29 percent increase in second quarter net profit after a strong performance in its investment banking unit drove up core revenues. The net profit of 1.57 billion Swiss francs ($1.41 billion) compared with 1.22 billion francs in the same quarter last year and matched most analysts' expectations.
Swiss bank Credit Suisse reports 29 percent rise in 2Q net profit to $1.41 billionJuly 23rd, 2009 Credit Suisse reports $1.41 billion 2ndQ profitZURICH — Swiss bank Credit Suisse Group has reported a 29 percent rise in second-quarter net profit to 1.57 billion francs ($1.41 billion). The bank says the results include one-time charges, legal costs and tax benefits.
Swiss officials say tourist taken hostage in North Africa is releasedJuly 12th, 2009 Officials: Swiss hostage is releasedBERN, Switzerland — Swiss officials say a tourist taken hostage in North Africa in January has been released. The Foreign Ministry says the Swiss man who was held in Mali is receiving medical treatment.
Bankruptcy judge says Swiss bank's bid for posh Mont. club must include $42M in debt paymentMay 13th, 2009 To buy Mont. club, Swiss bank must repay $42M debtHELENA, Mont.
Federal bankruptcy judge says Credit Suisse loan to Yellowstone Club was predatoryMay 12th, 2009 Judge says loan to Yellowstone Club was predatoryHELENA, Mont. — A federal bankruptcy judge has ruled that a $375 million loan made by Credit Suisse to a Montana resort for the ultrarich was predatory and should be subordinated to other debts.
Financial giant Credit Suisse defends its $375M loan to Montana's fancy Yellowstone ClubMay 9th, 2009 Credit Suisse defends $375M loan to Montana resortMISSOULA, Mont. — Financial giant Credit Suisse is defending its $375 million loan to a now-bankrupt Montana resort for the rich, saying it was a legitimate transaction that reflected standard lending practices at the time.
UBS confirms 2 billion francs net loss in 1st quarter, client withdrawals continueMay 5th, 2009 UBS confirms 2B francs net loss for Q1ZURICH — UBS AG reported a first-quarter net loss of 1.98 billion Swiss francs ($1.73 billion) Tuesday, confirming a warning given last month, and said it remains cautious about its outlook as loan losses are expected to mount amid the economic downturn. UBS, which replaced its CEO, chairman and several other senior officials after record losses of some 21 billion francs last year, also said customer withdrawals continued in the first quarter.
UBS confirms Q1 loss of $1.75 bnMay 5th, 2009 ZURICH - The Swiss banking giant UBS confirmed Tuesday it lost nearly 2 billion francs ($1.75 billion) in the first quarter of this year, mostly on exposure to risky positions and continued outflow of capital. UBS said in a statement that the losses were on positions the bank was exiting or had already closed.
Expert: $375M loan to exclusive Yellowstone Club in Montana was based on faulty projectionsMay 4th, 2009 Expert: Club's loan based on faulty projectionsMISSOULA, Mont. — A real estate expert says a $375 million loan to the Yellowstone Club before it sought bankruptcy protection was based on faulty assumptions that sales at the exclusive Montana club would be brisk.
Credit Suisse reports $1.71 bn profit in first quarterApril 23rd, 2009 GENEVA - Banking giant Credit Suisse Group reported Thursday a net profit of 2 billion Swiss francs ($1.71 billion) in the first quarter of 2009, in part owing to a recovery of its trading unit. Last year's first quarter saw the bank lose 2.15 billion francs.
Swiss bank gets 34-year-old CEOMarch 31st, 2009 GENEVA - One of Switzerland's largest private wealth managers will have a new chief executive officer, aged only 34, the Julius Baer bank announced Tuesday. The private bank said Boris Collardi would take over from current CEO Johannes de Gier.
Goldman Sachs infuses Rs.3.7 bn into Indian subsidiaryFebruary 9th, 2009 MUMBAI - Taking a cue from Credit Suisse and Morgan Stanley, banking and investment services firm Goldman Sachs has infused Rs.3.7 billion (Rs.370 crore/$76 million) into its Indian subsidiary Pratham Investments and Trading Pvt Ltd, it was announced Tuesday. Earlier this month, Morgan Stanley had invested an additional Rs.1 billion into its Indian retail stock broking and portfolio management services firm Morgan Stanley India Financial Services (MSIFS).
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