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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-10-27T19:48:00
Credit Suisse announced sweeping changes to its strategy and leadership in an attempt to pivot from risky, failed investment ventures and back toward its historic specialty of wealth management.
The Swiss bank plans to restructure over the next three years, including selling off a portion of its investment banking business to Apollo Global Management and shrinking its employee headcount by 2,700 (5 percent) in 2023 and by 9,000 by 2025.
Credit Suisse also said it plans to revive a brand it had mothballed in 2006, CS First Boston, which will be an independent investment bank that will take over what had been Credit Suisse investment bank’s capital markets and advisory activities.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
2023-03-20T18:14:00Z By Aaron Nicodemus
Credit Suisse will merge with UBS in a move approved by Swiss banking regulators after a proposed cash injection from the Swiss National Bank failed to stabilize Credit Suisse’s rapidly declining finances.
2023-03-14T19:47:00Z By Aaron Nicodemus
Credit Suisse Group disclosed in its annual report its internal control over financial reporting was “not effective” for the fiscal year ending December 2022.
2023-03-01T17:26:00Z By Aaron Nicodemus
Poor risk management by Credit Suisse’s asset management company kept the bank mostly unaware of the risky nature of lending procedures used by Lex Greensill that would lead to the collapse of Greensill Capital, according to Switzerland’s Financial Market Supervisory Authority.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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