"Particularly following the significant US-based hedge fund matter, the Board of Directors is amending its proposal on the distribution of dividends and withdrawing its proposals on variable compensation of the Executive Board," the Swiss lender said in a trading update.
Investment Bank CEO Brian Chin and Chief Risk and Compliance Officer Lara Warner will step down from their roles with immediate effect, the bank said. Last week, Credit Suisse revealed that it was expecting heavy losses in the wake of the meltdown of U.S. hedge fund Archegos Capital. The bank was forced to dump a significant amount of stock to sever its ties to the troubled family office, and now expects a first-quarter pre-tax loss of around 900 million Swiss francs .
"This includes a charge of CHF 4.4 billion in respect of the failure by a US-based hedge fund to meet its margin commitments as we announced on March 29, 2021," Credit Suisse added.
Morgan Stanley sold all their shares overnight, when markets were closed and everyone was asleep. The system is corrupt to its core. Criminal.
YunLi626 Very big changes to how the world functions has filtered into the higher education sector with the University of NSW partnering with OpenLearning (ASX: $OLL) to create a new online pathway program thats changing the future of EDU!!
YunLi626 Economic recovery will be built on educated upskilled workforce We know from experience, economic downturns lead to upturns in demand for education. An undisclosed amount of government funding will be invested in Micro-credentials.
YunLi626 ASX-OLL New annual report released Canaccord Genuity Report on $OLL - $0.50 Fair Value, $0.74 Bullish Target. A very good time to buy in the current stock price. Do Your own research before making any financial decisions
😂 literally one guy caused this, what a legend. WSB degeneracy taken to the next level
BUCKLE UP, Rough WATERs Ahead. Time to HOLD GOLD, which acts as Portfolio INSURANCE. Gold is a HEDGE against Inflation, which will hit 3-4% or HIGHER in 2021. Looking at 5-6% Inflation by 2022. Bitcoin Still Early in Move UP! SELL BONDs BUY GOLD Cash is TRASH.
Ha ha... name brand phucking you....again...
A week late and few billions short 😂
SoccerMomTrades No way, this is so unbelievable
Shocker