Credit Suisse to tighten the reins after string of scandals

Published by
Reuters

By Oliver Hirt, Pamela Barbaglia and John O’Donnell ZURICH/FRANKFURT (Reuters) – Credit Suisse will unveil a new centralised structure on Thursday in an attempt to bring its far-flung divisions to heel and draw a line under a string of scandals that have cost the Swiss bank billions of dollars, two sources said. Over the past year, Credit Suisse has been fined for arranging a fraudulent loan to Mozambique, tarnished by its involvement with defunct financier Greensill, racked up $5.5 billion in losses when U.S. family office Archegos collapsed, and been rebuked by regulators for spying on execu…

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