Credit Suisse has solid capital and liquidity, Chief Executive Ulrich Koerner told staff in a memo seen by Reuters on Friday and confirmed by a spokesperson for the Swiss bank that is due to announce the outcome of a strategic review next month. Citing people familiar with the situation, Reuters reported last week that Credit Suisse was sounding out investors for fresh cash as it attempts a radical overhaul of its investment bank. Credit Suisse shares, which have fallen by more than half this year to touch record lows, gained 3.9% on Friday to close at 3.976 Swiss francs.
HONG KONG (Reuters) -Credit Suisse has named veteran banker Jing Wang head of its Chinese securities joint venture, as the bank presses ahead with plans to expand in the world's second-largest economy while preparing a strategy review for its global business. Wang has been named chief executive officer of Credit Suisse Securities (China) Ltd effective immediately, according to an internal memo reviewed by Reuters on Thursday. Wang recently worked as the bank's head of China onshore wealth management.
Bankers texting away on their personal phones are costing the biggest banks on Wall Street chunk of money.