Credit Suisse on Wednesday announced that CEO Thomas Gottstein would step down as the bank reported a massive second-quarter loss, as poor investment bank performance and mounting litigation provisions hammered earnings. The embattled Swiss bank posted a net loss of 1.593 billion Swiss francs ($1.66 billion), far below consensus expectationsContinue Reading

Credit Suisse on Wednesday reported a net loss for the first quarter of 2022 and announced a management reshuffle, as the Swiss lender struggles with litigation costs and the fallout from the Russia-Ukraine war. The net loss came in at 273 million Swiss francs ($283.5 million) for the quarter, afterContinue Reading

A Credit Suisse symbol in the window of a Credit Suisse Group AG financial institution branch in Zurich, Switzerland, on Thursday, April 8, 2021. Stefan Wermuth | Bloomberg | Getty Photographs Credit history Suisse has overwhelmed analyst estimates for the 3rd quarter, but took a strike from expenses settling allegationsContinue Reading