Breakingviews - If Credit Suisse loves its bankers set them free Brv - Clm HEAD TOPICS

Breakingviews - If Credit Suisse loves its bankers set them free

10/21/2022 2:01:00 PM

From Breakingviews - If Credit Suisse loves its bankers set them free

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Reuters

From Breakingviews - If Credit Suisse loves its bankers set them free Credit Suisse is a weak bank with some strong bankers. So Chair Axel Lehmann is considering bringing in outside money to insulate those rainmakers from the parent group’s turmoil. A more caring gesture would be to find them a new, less troubled home. .That could fund retention payments for managing directors in the bank’s strongest areas, like consumer staples and materials. Credit Suisse could also offer them private stock in a focused dealmaking unit, rather than the struggling mothership, so they eat more of what they kill, in Wall Street parlance. By being one step removed from Credit Suisse’s larger troubles, they might regain the swashbuckling spirit of prior acquisitions like and Donaldson, Lufkin & Jenrette.Reuters GraphicsBut shares in a privately held investment bank can’t be used to buy Gucci loafers or a beach house, which is one reason firms like Goldman Sachs and Lazardeventually went public. That would leave Lehmann under pressure to float the carved-out unit, giving the bankers and external investors a way of turning their holdings into cash. Read more:
Reuters » Gold Price Forecast: XAU/USD to come under renewed pressure, next support at $1,614 – Credit Suisse Credit Suisse currency rigging claims go before U.S. jury Credit Suisse scrambles to finalise revamp as deadline looms If Credit Suisse loves its bankers, set them free

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Sterling rallied on Thursday and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed. Read more >> Gold Price Forecast: XAU/USD to come under renewed pressure, next support at $1,614 – Credit SuisseGold has reinforced its “double top.” Strategists at Credit Suisse expect the yellow metal to suffer further weakness. Only a convincing weekly close ไปใหนก็ไปเหอะ ควย Credit Suisse currency rigging claims go before U.S. juryA U.S. jury began deliberating on Wednesday at a civil trial where Credit Suisse Group AG stands accused of conspiring with the world's largest banks to rig prices in the foreign exchange market between 2007 and 2013. Credit Suisse scrambles to finalise revamp as deadline loomsCredit Suisse is racing to firm up sales of part of its business that could limit the cash it needs from investors, a person with direct knowledge of the matter said, with just days to go before the bank unveils an overhaul. If Credit Suisse loves its bankers, set them freeThe Swiss bank may bring outside investors into its dealmaking unit, to insulate it from parental turmoil. The business could be worth up to $6 bln, valued in line with boutique advisory shops. Yet the best way to hit such a price tag is for Credit Suisse to cut it loose. NZD/USD: 0.5798/5813 to hold current correction to avoid a stronger upmove towards 0.5978 – Credit SuisseNZD/USD is seeing a minor recovery, which economists at Credit Suisse look to be held at 0.5798/5813. Move below 0.5510 needed to turn near-term risk Brent Crude Oil to suffer further weakness, potentially to the March 2021 low at $60.27 – Credit SuisseBrent Crude Oil is back below key averages. Strategists at Credit Suisse expect further weakness from here. Only a solid rise back above $93.78/102.57 reported .has reinforced its “double top.By Jody Godoy The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland October 4, 2022.The embattled Swiss lender wants to draw a line under a string of scandals and legal actions in a shake-up that would likely see it pare back a volatile investment bank in London and New York to focus on banking for the rich in Switzerland. That could fund retention payments for managing directors in the bank’s strongest areas, like consumer staples and materials. Credit Suisse could also offer them private stock in a focused dealmaking unit, rather than the struggling mothership, so they eat more of what they kill, in Wall Street parlance. Only a convincing weekly close above $1,712 would ease the pressure “Gold below $1,691/76 has reinforced its existing large ‘double top’. By being one step removed from Credit Suisse’s larger troubles, they might regain the swashbuckling spirit of prior acquisitions like and Donaldson, Lufkin & Jenrette. jury began deliberating on Wednesday at a civil trial where Credit Suisse Group AG (CSGN. Reuters Graphics But shares in a privately held investment bank can’t be used to buy Gucci loafers or a beach house, which is one reason firms like Goldman Sachs and Lazard eventually went public. We note that the next support is seen at $1,614, then $1,560 and eventually $1,451/40. That would leave Lehmann under pressure to float the carved-out unit, giving the bankers and external investors a way of turning their holdings into cash. Analysts have said the company might need as much as 9 billion Swiss francs ($9 billion) as part of a reorganization, some of which may have to come from investors and some from the sale of assets. SECOND COMING Imagine, then, that Credit Suisse spins out its advisory and capital-markets business.”   Information on these pages contains forward-looking statements that involve risks and uncertainties.31 billion. Call it Second Boston. If the independent firm can grab a little more than 2% of total industry merger and underwriting fees, roughly what it does now according to Refinitiv data, it might have $3 billion of annual revenue. You should do your own thorough research before making any investment decisions. That’s assuming the global pot settles at $130 billion, halfway between this year’s depressed run-rate and last year’s levels, based on Refinitiv data. 11, jurors heard testimony that five banks and two traders had pleaded guilty to forex-related antitrust conspiracies, and saw transcripts from chat rooms with names such as "The Cartel" where investors say traders colluded. That could give it a chunky value relative to Credit Suisse’s own market capitalisation. It also does not guarantee that this information is of a timely nature. However, there was no guarantee of a sale. Rival Perella Weinberg .