Credit Suisse

  • Credit-Suisse

  • brady-dougan

    News

    Promotion Watch ’12: Credit Suisse

    Recent events might have had you thinking otherwise, but Credit Suisse does more than just layoff its employees– sometimes it promotes them, too! Earlier this morning, in fact, the Swiss bumped a whole bunch of guys and girls up to managing director. And even though it’s not grundle-to-face level exciting, it’s still something.

    / Dec 18, 2012 at 1:44 PM
  • News

    Layoffs Watch ’12: Credit Suisse Allows Soon-To-Be Laid Off Employees To Enjoy The Holidays

    Light your candles, hang some mistletoe, ring in 2013, and then come back January 2 prepared to clear out your desk.

    / Dec 11, 2012 at 1:34 PM
  • santa-hat

    News

    Layoffs Watch ’12: Credit Suisse Has Good News And Less Good News

    The good news: due to technical issues, no one will be fired before tonight’s holiday party! The less good news: you’ll likely still be fired eventually.

    / Dec 6, 2012 at 11:09 AM
  • News

    Layoffs Watch ’12: Credit Suisse (Again)

    More cuts at the House of Dougan, on top of the ones in Russia, were said to have gone down today.

    / Dec 5, 2012 at 5:07 PM
  • bradydougan

    News

    Layoffs Watch: Credit Suisse

    The House Of Dougan has apparently said Do svidaniya to a handful of comrades.

    / Dec 4, 2012 at 1:26 PM
  • Credit Suisse

    News

    Layoffs Watch ’12: Credit Suisse

    Cuts are said to be going down circa now at the Swiss bank.

    / Nov 29, 2012 at 2:45 PM
  • bradydougancreditsuisse

    News

    Layoffs Watch ’12: Credit Suisse

    Cuts are expected to go down at the House Of BD.

    / Nov 26, 2012 at 4:10 PM
  • Brady Dougan gives good rueful.

    News

    Credit Suisse Did The Same Bad Mortgage Things As Everyone Else

    This New York Attorney General lawsuit against Credit Suisse is mostly the same as all the other lawsuits by all the other regulators against all the other banks. Here is a summary, based on the complaint: Some mortgage originators made crappy loans, because that was the style at the time. They sold them to Credit […]

    / Nov 20, 2012 at 4:11 PM
  • Eh, I can live with this.

    News

    JPMorgan And Credit Suisse Put Mortgage Problems Behind Them For All Time

    The SEC settled cases today with JPMorgan and Credit Suisse over “misleading investors in offerings of residential mortgage-backed securities” for a total of about $400 million, which the SEC plans to hand out to those misled investors. There’s been a lot of this sort of thing recently, so here’s a quick cheat sheet on who […]

    / Nov 16, 2012 at 5:18 PM
  • pablosushi

    News

    Bloomberg: How Wall Street’s Stomachs Fared During The Hurricane

    …when Falcone and five LightSquared colleagues met over a meal of white-truffle pasta and Barolo at a Washington restaurant in January, they failed to come up with anything they could have done differently, according to a person who was there who asked not to be identified because the meeting was private.– Falcone Waits For Icahn Doubling Down On Network

    When JPMorgan, which earned the most of any of the six banks over the four quarters, decided to thank employees for their performance this year, it sent 161,680 individually wrapped buttercream-frosted, chocolate chip, oatmeal-raisin and sugar cookies to retail branches and call centers in the U.S., U.K., Philippines and India.– No Joy On Wall Street As Biggest Banks Earn $63 Billion

    Cooperman, 68, said in an interview that he can’t walk through the dining room of St. Andrews Country Club in Boca Raton, Florida, without being thanked for speaking up. At least four people expressed their gratitude on Dec. 5 while he was eating an egg-white omelet, he said.–Bankers Join Billionaires To Debunk ‘Imbecile’ Attack On Top 1%

    American International Group Chief Executive Officer Robert Benmosche, 66, a Kappa Beta Phi member who disclosed in October that he was undergoing treatment for cancer, was there. He looked energetic, the two attendees said. In 1930, the dinner was beefsteak. This year, the meal featured lobster salad, shrimp, pigs-in-a-blanket, lamb chops and pistachio ice cream.– Wall Street Secret Society Kappa Beta Phi Adds Dealmakers With Lehman Rite

    Wall Street headhunter Daniel Arbeeny said his “income has gone down tremendously.” On a recent Sunday, he drove to Fairway Market in the Red Hook section of Brooklyn to buy discounted salmon for $5.99 a pound.–Wall Street Bonus Withdrawal Means Trading Aspen For Coupons

    The clam-juice cocktails at the private Stock Exchange Luncheon Club, where brokers lined up three deep at the raw bar, contained tomato juice, cooled water from boiled chowder clams, ketchup, celery salt and the option of a freshly shucked clam. Add vodka and they called it a Red Snapper.–How America Ceded Capitalism’s Bastion To German Boerse Seizing Big Board

    As someone once said, you can find out a lot about a man or woman’s character during moments of great crisis. Do they fall apart? Do they become shells of their former selves? Do the worst parts of them come out? Do they turn their backs on everything they supposedly once stood for? Or do they, even in moments of darkness, rise to the occasion and demonstrate the morals and values they held when times were good are the very same ones they choose to live by when times are bad? For Bloomberg News reporter Max Abelson, Hurricane Sandy was a test. Would he turn in an article containing few if any reference to the food people consumed during the natural disaster? Or would his commitment to bringing readers exhaustive details re: what his Wall Street subjects eat (see above, here, and here) burn ever bright, to the extent that sources and interviewees elaborating on their situation beyond provisions would find themselves cut off and told, “Just the food and drink, toots. I got a lotta calls to make”?

    Luckily for us, it was the latter.

    Herewith, an accounting of things stuffed down the gullets of Wall Street over the last two days:

    * Murry Stegelmann, Kilimanjaro Advisors: expensive wine, green tea.

    “I had to go to the wine cellar and find a good bottle of wine and drink it before it goes bad,” Murry Stegelmann, 50, a founder of investment-management firm Kilimanjaro Advisors LLC, wrote in an e-mail after he lost power at 6 p.m. on Oct. 29 in Darien, Connecticut. The bottle he chose, a 2005 Chateau Margaux, was given 98 points by wine critic Robert Parker and is on sale at the Westchester Wine Warehouse for $999.99. “Outstanding,” Stegelmann said. He started the day with green tea at Starbucks, talking with neighbors about the New York Yankees’ future and moving boats to the parking lot of Darien’s Middlesex Middle School.

    * Wilson Ervin, Credit Suisse: the most depressing breakfast ever.

    Erin…went to the bank’s office at 11 Madison Ave. afterward to work on evaluations of managing directors and financial regulation. He ate a lunch of Raisin Bran, coffee and a banana from the 7-Eleven downstairs, he said.

    * Pablo Salame, Goldman Sachs: sushi, the piece of which Abelson or his research assistant counted.

    He posted a picture of 21 pieces of sushi on a Twitter account in his name on Oct. 29. “Only in NYC, Seamless Sandy sushi delivery in TriBeCa, Monday 730 pm,” the post said.

    * Wilbur Ross, WL Ross And Co: a painting.

    “I was scheduled to come back Sunday night, and I decided not to, because everything during the week would be canceled anyway,” said Ross, chairman of private-equity firm WL Ross & Co. “I’m stuck in Palm Beach.”
    He stayed in touch with colleagues using a fax machine along with phone and e-mail. His Florida home includes a painting by Rene Magritte of petrified blue apples, an image that is also depicted on a custom-made Van Cleef & Arpels watch he owns, he told Bloomberg News this year.

    * JPMorgan employees: many of the culinary delights its cafeteria offers on a regular basis but NO DUMPLINGS.

    JPMorgan, which sent out more than a dozen hurricane updates to its employees featuring detailed weather maps, kept parts of its 270 Park Ave. cafeteria open yesterday. Danishes and scones were available near the salad bar, and the bank’s deli had sandwiches with grilled vegetables. The dumpling bar was closed.

     

    Wall Street Finds Sandy Silver Lining In Wine, Monopoly [Bloomberg]
    Related: Things People Have Eaten in the Presence of Bloomberg Reporter Max Abelson [Daily Intel]

    / Oct 31, 2012 at 12:51 PM
  • Meh.

    Banks, News

    Banking Boring Again Even At Credit Suisse

    One way to make a lot of money in banking is just to be really good at it. But this is not a very good way! There are lots of people who want to make a lot of money in banking, and all of them1 have at least considered the approach of “just be good […]

    / Oct 25, 2012 at 4:28 PM
  • News

    Wedding After-Party Of Financial Services Couple Requires One Cop For Every One Guest*

    Which apparently wasn’t enough.

    / Oct 9, 2012 at 2:58 PM
  • News

    These Things Happen

    Kareem Serageldin, the ex-global head of Credit Suisse’s CDO business charged in a bonus-boosting fraud tied to a $5.35 billion trading book, plans to fight extradition to the U.S. until he reaches a plea deal. Serageldin’s lawyer told a London court yesterday that his client’s arrest this week outside the U.S. Embassy was a result […]

    / Sep 28, 2012 at 3:04 PM
  • News

    Layoffs Watch ’12: Deutsche Bank, Barclays, Nomura, Credit Suisse, UBS

    Things could be better in Europe.

    Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation. Bank executives, headhunters and analysts say that the cuts are shaping up as the deepest since the start of the financial crisis after a disappointing summer dashed hopes of a business revival. One senior headhunter said many large investment banks will have “at least 20 per cent” fewer staff in capital markets and M&A advisory business in Europe by the end of the year compared with late 2011. “It [the market] has never been as bad as this. Bankers have long lost confidence in their banks but now they are also losing their self-confidence, their mojo,” a senior advisory banker said.

    Among the banks that will reduce their investment banking workforce is Japan’s Nomura, where London-based bankers say that they expect several hundred jobs to be removed in Europe alone as part of a $1bn cost-cutting effort. Switzerland’s largest bank UBS, which cut staff levels earlier than rivals by announcing 2,000 job cuts in the investment bank after a $2.3bn unauthorised trading loss last year, is preparing for intensified cuts as it is seeking to streamline further the unit, several people familiar with the situation said. At Credit Suisse, insiders estimate that the additional SFr1bn ($1bn) in groupwide cuts that were announced in July will translate into up to 1,000 jobs being lost, most of which would be in the investment bank. Analysts expect also Deutsche Bank and Barclays to reduce their headcount further this year. Deutsche said two months ago it would reduce staff levels by 1,900.

    Investment Banks Eye Europe Job Cuts [FT]

    / Sep 7, 2012 at 1:44 PM
  • News

    Swiss Banks That Tasked Employees With Helping Clients Evade Taxes Are Saving Themselves By Turning In Said Employees, Muttering “I can’t believe you’d do something like that, don’t you know tax evasion is illegal” Loud Enough For Others To Hear

    Swiss banks are turning over thousands of employee names to U.S. authorities as they seek leniency for their alleged role in helping American clients evade taxes, according to lawyers representing banking staff. At least five banks supplied e-mails and telephone records containing as many as 10,000 names to the U.S. Department of Justice, according to […]

    / Aug 16, 2012 at 4:36 PM
  • News

    Layoffs Watch ’12: Credit Suisse

    Cuts were said to have gone down at the House of Dougan this week.

    “Layoffs at Credit Suisse this week, mostly Wednesday and Thursday. ASO / VP level in IBD groups in New York (TMT, Energy, Industrials, Sponsors).”

    / Jun 29, 2012 at 3:38 PM

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