Credit Suisse sells fintech stake ahead of strategic overhaul
Swiss bank Credit Suisse has sold its stake in a Spanish digital wealth platform as part of a strategic overhaul aimed at reviving its ailing fortunes.
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Credit Suisse vende su participación en plataforma española Allfunds
Credit Suisse took a stake in Allfunds in 2019, merging its InvestLab unit with the fintech to create a €500 billion digital funds distribution platform.
But the Swiss bank has since floundered amid a myriad of legal issues and huge market losses. New CEO Ulrich Körner has been charged with reviving the bank’s fortunes with a strategic re-think.
Credit Suisse has achieved one legal victory after a United States court cleared the bank of rigging prices in the foreign exchange markets.
The jury has cleared the bank of allegations of market fixing between 2007 and 2013.
“Credit Suisse is extremely pleased that the jury agreed with us that plaintiffs’ case had no merit,” the bank said in a statement on Friday.
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Credit Suisse prepares Swiss business sales to raise capital
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Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around CHF4.5 billion.
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
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Credit Suisse prepares Swiss business sales to raise capital
This content was published on
Credit Suisse is preparing to sell parts of its Swiss domestic bank as it attempts to close a capital hole of around CHF4.5 billion.
Credit Suisse pays $495 million to settle legacy case
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Credit Suisse has agreed to pay $495 million to settle a case linked to its residential mortgage-backed security (RMBS) business.
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