Credit Suisse

  • Auction Rate Securities, Credit Suisse, legal

    Credit Suisse Sued, Brokers Called Corrupt

    A microchip maker is suing Credit Suisse, alleging the Swiss bank put $450 million into auction rate securities without authorization and made threats of retaliation when the company demanded its money and threatened to sue. “Rather than siding with customers who had been victimized, Credit Suisse Group aligned itself with its wholly owned subsidiary Credit […]

    / Aug 7, 2008 at 3:28 PM
  • Bear Stearns, Credit Suisse, Lehman, Sports

    The Bear Stearns Name Lives On…At Least On The Lacrosse Field!

    A few weeks after it was revealed that Bear Stearns would be acquired by JP Morgan Chase, the Wall Street Journal’s Kelly Evans reported on the unwritten fate of Bear Stearns champion lacrosse team. “Among the remaining questions hanging over Bear Stearns Cos. is this: What happens to its lacrosse team?” Evans wrote. “Bear Stearns […]

    / Jun 9, 2008 at 4:17 PM
  • Brady Dougan, Credit Suisse

    Layoffs Watch ’08: Credit Suisse

    Credit Suisse announced this morning that it will be cutting 500 jobs in investment banking and “administrative support” divisions. Spokesman Bruce Corwin claimed the layoffs are due to shrinking client demand, though one might note the “coincidence” between the start of the tortuously long summer lines at the Shake Shack and a sudden reduction in […]

    / Apr 22, 2008 at 10:00 AM
  • Credit Suisse

    Credit Suisse Workers Encouraged To Seek Employment Elsewhere

    A bunch of first years in Credit Suisse’s financial sponsors group—who supposedly haven’t yet received their bonuses—were told today it’d be in everyone’s best interest if they stopped showing up to the office, circa now. Not technically laid off (that actually would’ve been more humane, cause at least it would mean a few well-deserved weeks […]

    / Mar 5, 2008 at 2:43 PM
  • Credit Suisse

    Credit Suisse Looking To Jump Loan Gun Again?

    It looks like Credit Suisse is getting ready to front-run the financing syndicate for the pending $20 billion buyout of Clear Channel Communications. Reuters reporters Jonathan “Keen Eye” Keehner and Brit beauty Megan Davies are reporting that a source tells them the Swiss bank has called potential investors regarding a chunk of the loans and […]

    / Feb 27, 2008 at 4:29 PM
  • Credit Suisse, The How to Think About Series

    How To Think About The Credit Suisse Pricing “Error”

    A lot of people are acting all shocked and dismayed over the little slip-up that happened at Credit Suisse. Saying they can believe something like this would happen over at Bear, where Jimmy Cayne spends all the money on chips and forgets to leave an IOU, and UBS, where God retroactively punishes, and Citi, where […]

    / Feb 20, 2008 at 10:25 AM
  • Banks, Bear Stearns, Credit Suisse

    Credit Suisse To Bear Stearns: It’s Not You, It’s Us.

    Credit Suisse is totally not going steady with Bear Stearns. Ruddy Brady Dougan—the Irishman who is somehow chief executive of the Swiss bank—told Credit Suisse bankers at the meeting of the Committee To Run The World in Davos, Switzerland that a deal to acquire Bear Stearns is a “non-starter,” according to Mark DeCambre at […]

    / Jan 31, 2008 at 12:00 PM
  • Credit Suisse

    Are The Qataris Looking To Buy 5% of Credit Suisse?

    Last week the Prime Minister of Qatar told CNBC’s Maria Bartiromo that the Qatar Investment Authority was “doing something” with one of the Swiss banks, prompting many conclude that the rumors of a large capital injection were true. But the Prime Minister insisted that he wasn’t taking a passive “capital injecting” role but had been […]

    / Jan 28, 2008 at 9:57 AM
  • Credit Suisse, Morgan Stanley

    Layoffs Watch ’08: Current And Upcoming Shitcannings At Credit Suisse And Morgan Stanley, Respectively

    A (very) recently fired Credit Suisse employee tells us that “Every conference room on the CMBS floor has an HR representative working through people as they show up for work. Analysts and Associates seem to be the first out the door.” We understand that for the victims, this might seem like bad news, and yeah, […]

    / Jan 24, 2008 at 11:46 AM
  • Credit Suisse, insider-trading

    Lawyers Prosecuting Credit Suisse Banker Ambivalent About Whether Or Not They’re Going For A Guilty Verdict

    Former Credit Suisse investment banker Hafiz Naseem pleaded not guilty yesterday to allegations that he was “the mastermind” behind a $7 million insider-trading ring in which he leaked details about nine deals that Credit Suisse was an adviser on, including the $45 billion leveraged buyout of TXU. The prosecution’s foolproof rebuttal? Naseem had a gambling […]

    / Nov 27, 2007 at 11:45 AM
  • Credit Suisse, Layoffs

    More Job Losses For The Gnomes of Madison Park

    So last week we broke the story of layoffs at Credit Suisse. At the time we were hearing that as many as 400 people were going to be laid off. When Credit Suisse finally formally announced the job cuts the next day, they claimed they were only cutting 150 positions. So it seemed like the […]

    / Oct 3, 2007 at 3:35 PM
  • Credit Suisse, Layoffs

    The Gnomes Of Madison Park Execute Some Bond Traders

    The story of job cuts at Credit Suisse are all over the wires today. The official body count is 150. The most serious carnage came in an unsurprising area of originating and processing residential mortgages. The same areas that Lehman and Bear Stearns cut back. These aren’t considered “Wall Street” jobs by most folks in […]

    / Sep 26, 2007 at 9:36 AM
  • Credit Suisse, Layoffs

    Credit Suisse: Layoffs!

    Update 11:45 PM: DealBook is reporting that the investment bank is laying off about 150 workers from its mortgage-backed securities unit. Sourced to “a person with knowledge of the matter.” Earlier reports: Credit Suisse is rumored to have laid off a massive amount of New York employees today. The whisper number for the layoffs was […]

    / Sep 25, 2007 at 5:24 PM
  • Citigroup, Credit Suisse, HSBC, KKR, Lehman, Leveraged Buyouts, Merrill Lynch, Private Equity

    Cracking KKR
    Private Equity Giant Shows Willingness To Make Concessions On Closely Watched LBO Deal

    The banks have won the first big show down with private equity. Last night several news outlets, including the Wall Street Journal, reported that private equity giant Kohlberg Kravis Roberts has signaled a willingness to include a financial covenant for the bank loan portion of the $24 billion of debt needed to finance its purchase […]

    / Sep 10, 2007 at 11:52 AM
  • Banks, Credit Suisse, Korea, Morgan Stanley

    South Korea Throws Banks a Bone

    Finally, the National Pension Service (NPS) of South Korea is letting some of the bulge bracket banks into its $220 billion coffers. Morgan Stanley and Credit Suisse are the first to get a piece of the pie, although we hope they aren’t that hungry. South Korea is condescending to let Morgan Stanley and Credit Suisse […]

    / Jul 25, 2007 at 10:14 AM
  • Banks, Credit Suisse, JPMorganChase, Lehman, Sports

    Runners not as challenged on Day 2

    Lehman may have dominated day one of the JPMorgan Chase Corporate Challenge, but day 2 was more bearish for bankers, and bullish for GlaxoSmithKline. Day 2 also featured faster times overall. GlaxoSmithKline was responsible for two explosive runs on the women’s side, courtesy of over the counter diet drug Alli, and the fact that the […]

    / Jun 22, 2007 at 11:33 AM
  • Credit Suisse

    Shake Shack Nabs Two New Patrons

    DealBook reports that Credit Suisse has added two new managing directors to its investment banking group. Tom Delbrook joins the firm’s general industrial and services group from UPS. Markus Pressdee is in as head of new infrastructure, having worked as a banker at UBS. Credit Suisse Adds to Investment Banking Team [DealBook]

    / Jun 20, 2007 at 3:02 PM
  • Banks, Credit Suisse, insider-trading

    Feds Charge Prominent Pakistani Banker In CSFB-TXU Insider Trading Case

    Federal prosecutors yesterday brought criminal charges against Pakistani banker Ajaz Rahim, who they allege traded on inside information leaked to him by a junior Credit Suisse banker. Rahim is a prominent figure in Pakistani investment banking, and until quite recently worked as the country head of investment banking of the Faysal Bank in Karachi. The […]

    / May 30, 2007 at 2:37 PM

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