Venture Capital

Credit Suisse Group Ag (cs) Q1 2021 Earnings Call Transcript

by posted 4months ago 55 views
CS earnings call for the period ending March 31, 2021.: Credit Suisse is turning to investors for nearly $2bn (£1.4bn) to boost its finances following the twin implosions of Greensill and Archegos. Thomas Gottstein, the chief executive, admitted that the 757m Swiss franc loss in the first quarter was "unacceptable". His comments came as Swiss regulator Finma said it had opened enforcement proceedings into the bank over its links to Archegos, hedge fund tycoon Bill Hwang’s family office. It has also begun a case over the bank's links with Greensill.