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Credit Suisse Plots A Comeback After ‘costly Mistakes’ Took It To The Brink

by finance.yahoo.com posted 4months ago 37 views
As Credit Suisse executives finalised an emergency $1.9bn fundraising from investors last week, a group of the bank’s prized super-rich clients from across Europe and Asia were on a separate Zoom call hosted by law firm Boies Schiller Flexner to plot a class-action suit against the lender. The clients had been persuaded by Credit Suisse to invest in its collection of supply chain finance funds, backed by the now collapsed Greensill Capital, that were marketed as ultra-safe with “limited credit risk given multiple layers of protection”.