About Us Deals and Transactions
Brian Chin to succeed Timothy O’Hara as CEO of Global Markets. Eric M. Varvel appointed President and CEO of Credit Suisse Holdings (USA), Inc. the bank’s recently designated Intermediate Holding Company (IHC)
Credit Suisse Group announced today that Tim O’Hara will be succeeded by Brian Chin, currently Co-Head of Credit, as CEO of Global Markets. Brian will join the Executive Board of Credit Suisse Group AG. The bank also announced that Eric Varvel is appointed President and CEO of Credit Suisse Holdings (USA), Inc., in addition to his current responsibilities as Global Head of Asset Management. These changes are effective immediately.
Credit Suisse AG announced today that it will repurchase at its option its Credit Suisse X-Links Merger Arbitrage ETNs (“CSMA”), as the outstanding principal amount of ETNs is $10,000,000 or less. The repurchase date is expected to be June 13, 2016.
TSSP today announced the acquisition of credit assets including a part of Credit Suisse's distressed credit portfolio for approximately $1.27 billion, utilizing no portfolio leverage. Additional terms of the transaction were not disclosed.
Credit Suisse announces a comprehensive and final settlement regarding all outstanding U.S. cross-border matters, including agreements with the U.S. Department of Justice, the New York State Department of Financial Services, the Board of Governors of the U.S. Federal Reserve System and, as previously announced, the U.S. Securities and Exchange Commission
Credit Suisse agrees to pay USD 2,815 million (CHF 2,510 million); these settlements, net of existing provisions, will result in an after-tax charge of CHF 1,598 million to be booked in the second quarter of 2014
Credit Suisse’s Look-through Basel III CET1 ratio would have been 9.3% at the end of 1Q14 had this charge been applied at that time; Credit Suisse expects to exceed 10% by end-2014
The settlement includes a guilty plea entered into by Credit Suisse’s Swiss banking entity, Credit Suisse AG
The resolution of this matter was coordinated with its lead global regulators, and Credit Suisse expects no impact on its licenses, nor any material impact on its operational or business capabilities
Credit Suisse Announces Settlement of FHFA Litigation Relating to Mortgage-backed Securities Purchased by Fannie Mae and Freddie Mac between 2005 and 2007
Credit Suisse today announced that it has entered into an agreement with the Federal Housing Finance Agency (FHFA). As a result of this settlement, Credit Suisse Group AG will incur an after tax charge in respect of its 4Q13 and full-year 2013 financial results of CHF 275 million.
Credit Suisse Group AG announced today that it has reached a final agreement with Swiss Prime Site AG on the sale of Wincasa AG. The parties have agreed not to disclose the purchase price. The transaction is due to be completed at the end of October 2012, subject to the approval of the Swiss Competition Commission.