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  1. www.credit-suisse.com › usBanking and financial services company in United States of ...

    Credit Suisse Group is a leading financial services company in the United States of America and worldwide. Find out the latest updates on the acquisition by UBS Group AG and the economic performance of small countries.

  2. en.wikipedia.org › wiki › Credit_SuisseCredit Suisse - Wikipedia

    Credit Suisse Group AG (French pronunciation: [kʁe.di sɥis], lit. ' Swiss Credit ') is a global investment bank and financial services firm founded and based in Switzerland.

    • 5 July 1856; 167 years ago
    • Zürich, Switzerland
    • 50,480 (end 2022)
    • CHF 14.92 billion (2022)

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  4. www.investopedia.com › what-happened-at-creditWhat Happened at Credit Suisse, and Why Did It Collapse?

    • About Credit Suisse
    • What Caused The Collapse of Credit Suisse?
    • Timeline of The Collapse
    • Impact of The Collapse
    • Acquisition of Credit Suisse by UBS
    • The Bottom Line
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    As of the end of 2021, Credit Suisse had assets under management (AUM)of 1.6 trillion CHF (about $1.75 trillion), making it the second-largest bank in Switzerland after UBS. At that time, Credit Suisse employed more than 50,000 people. Note that as of year-end 2022, Credit Suisse’s AUM had dropped to about 1.3 trillion CHF (about $1.4 trillion). Be...

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    Despite its long history, Credit Suisse was plagued by a series of scandals, management shifts, and significant losses in recent years. In February 2020, Credit Suisse’s then-CEO, Tidjane Thiam, resigned after a 2019 spying scandal. Credit Suisse’s wealth management boss, Iqbal Khan, left for UBS and was subsequently surveilled by private contracto...

    See full list on investopedia.com

    In summary, the key events leading up to the collapse of Credit Suisse include: 1. 2019 and early 2020: Credit Suisse faces a spying scandal regarding an outgoing wealth management executive; then-CEO Tidjane Thiam resigns. 2. 2021: Archegos Capital and Greensill Capital collapse, leading to $1 billion in losses for Credit Suisse and another manage...

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    The impact of UBS’ takeover of Credit Suisse is wide-ranging. For the bank’s offices around the world and its 50,000 employees, the future remains uncertain, as UBS could absorb some or all of them and shutter or lay off others. UBS is expected to have roughly $5 trillion in AUM following the deal. The global financial system responded with measure...

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    UBS’ purchase of Credit Suisse was orchestrated and approved by regulators. The price tag of more than $3 billion for the deal is modest compared with the size of the bank and its assets. UBS officials also said immediately following news of the purchase that they planned to reduce the size of Credit Suisse in the coming years, potentially by selli...

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    Following several years of scandals, Switzerland’s Credit Suisse bank collapsed in March 2023. It was purchased by Swiss rival UBS for about $3.3 billion in a deal approved by Swiss regulators without shareholder approval. UBS plans to sell off and downsize parts of Credit Suisse in the process. Following the completion of the merger, Switzerland w...

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    Credit Suisse, a leading Swiss bank, was bought by rival UBS in March 2023 after facing numerous scandals, losses, and a run on deposits. Learn about the events that led to the collapse, the impact on the global financial system, and the future of the bank's employees and clients.

    See full list on investopedia.com

  5. www.nytimes.com › credit-suisse-restructuringCredit Suisse Unveils Sweeping Revamp to Revive Its Fortunes

    Oct 27, 2022 · By Michael J. de la Merced. Oct. 27, 2022. After decades of chasing the prestige and profits of its rivals on Wall Street, Credit Suisse is pulling back to save itself. The Swiss bank said on...

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  7. www.bloomberg.com › news › articlesUBS Agrees to Buy Credit Suisse (CS) in Historic Deal to End ...

    Mar 19, 2023 · UBS to Buy Credit Suisse in $3.3 Billion Deal to End Crisis. Government to backstop some losses, provide liquidity; Authorities pushed for deal amid worsening confidence crisis

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