BBG: Credit Suisse plunges most ever after radical reboot disappoints

© Edwardgerges risk

© Edwardgerges

By LoadstarEditorial

27/10/2022

BLOOMBERG reports:

– Analysts bemoan $4 billion overhaul’s ‘lowly’ return target

– CEO Koerner doesn’t want to ‘overpromise’ but stock tumbles

Credit Suisse Group AG’s top two leaders described their plan to remake the troubled bank as “radical” and “decisive,” promising an end to half-measures.

The multiyear reshaping funded by a new Saudi Arabian backer marked a historic move away from going toe-to-toe with the biggest Wall Street players and an unprecedented attempt to spin out a boutique investment bank.

Now read this: “Credit Suisse cuts 9,000 jobs to stem losses“.

And this: “Credit Suisse Becomes Part of Saudi Crown Prince’s Vision“.

Comment on this article

You must be logged in to post a comment.

Topics

Credit Suisse Archegos The Guardian

Most read news

DSV likely to win DB Schenker fight as staff query union job loss calculations

CVC sets out benefits of its 'superior' offer for Schenker in letter to DB

Shippers seek alternatives as east coast port strike looms

RTR: Denmark's DSV wins 14 bln-euro race for Deutsche Bahn's Schenker, sources say

DSV and Deutsche Bahn agree €14.3bn sale of DB Schenker

Forwarders told to 'brace for impact' as ecommerce bags air capacity

'DSV + Schenker' – shock, celebration and...risk

'Aggressive' ecommerce growth hampered by lack of air cargo capacity

Ocean freight rates continue to tumble as peak comes to an early end

Air Canada warns of cargo disruption if strike goes ahead

The Schenker conundrum – chaos reigns (but been there before)

US east coast strike fears and price hikes fail to halt falling transpac rates

Poor service levels at online booking platforms could boost demand for GSSAs

Liege customs could block ecommerce shipments after 'losing patience'

Guilty! Germany AG sells Schenker short – a steal at €14.3bn

Ex-Asia airfreight rates start to hit peak season levels as capacity tightens