Friday , June 18 2021

Credit Suisse: A Merchant War Horse Survived

In addition to investment bank boss Brian Chin, there are additional layoffs in this credit sue unit. A veteran Swiss trader remains in office.

Credit Suisse’s personal cleanliness (CS) after its two billion debuts with Archego and Greensil does not only affect the investment bank. Brian Chin. also Paul Galito, Who heads stock trading and sales and is a partner head of the so-called Global Trading Solutions Unit (GTS), must according to one of The memorandum was observed and vacated from his chair.

That leaves only one boss in the GTS unit: the Swiss CS veteran Yves-Allen Sommerhalder. GTS was founded in 2017 as an international trading solution (ITS) within the framework of CS and sells products from the investment bank to particularly wealthy wealth management clients. Sommerhalder’s area of ​​responsibility also included the Asia-Pacific region. He reported to both Chin and Hellman Situhang, Head of Asia at CS.

Three risk managers disappeared

Gliatto’s missions are now taking over on an intermediate basis Anthony AvanteWhich also includes the management of the cash and prime brokerage units. The Archegos’ loss of 4.4 billion Swiss francs was caused by Prime Brokerage, where the hedge fund was a client. Avnante previously headed the Execution Services in Commerce and was therefore forced to complete the losing blocking sales of Archagos positions.

Another port mediated by the main CS is Shah retiredWho was responsible for risks in the unit. The middlemen are taking over there Nir Jahuer, VP of Global Primary Services and Head of US Primary Brokerage Agencies.

According to Bloomberg News, New York must continue Ryan Atkinson, Ilana Ash as Manish Mehta Vacate their chairs; They were also responsible for risk management at the investment bank.

How much longer will the stock markets continue?

  • At least another three years, thanks to the U.S. economic stimulus package

  • As long as the interest rate remains low

  • Technology stocks are falling, cycles are rising

  • The crash around the corner

  • During 2022 there will be a radical slump


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