Credit Suisse

Lloyds Banking Group wants to raise £20 billion ($32 billion) in a move to fund the sale of its 600 branches, according to the Sunday Times reports.

Almost owned by the government Lloyds needs more cash to address a funding gap at the branches, the paper reported.

Citigroup, Credit Suisse, JPMorgan Chase, Rothschild and UBS are all hoping to win the deal to advise on the sale of the branches but have been told they must offer a loan of between 15 and 20 billion pounds if they want to pick up the business, according to the Sunday Times.
 

7 of Goldman Sachs’ former private wealth management division executives have been prosecuted by the company for abruptly leaving the company to join the rival Credit Suisse earlier in February, according to the court documents.

According to the survey of 2,700 respondents was conducted by Credit Suisse in October and November 2009, household income in China soared over the last six years, especially for top earners, putting the country on track to eclipse the United States as the biggest consumer market in a decade.

The bank's survey reflected a big rise in property and car purchases, underscoring why many investors are betting big on a rise in China's consumer sector.

Credit Suisse said it expects to pay a hefty $536 million to settle a US probe.

The investigation is into payments made between 2002 and 2007 involving countries and entities that face US economic sanctions and such a settlement would be a second heavy payment made by a Swiss bank to US authorities this year. 

Credit Suisse said the expected settlement would likely result in a 445 million Swiss franc ($429 million) charge this quarter, or about 360 million francs after tax.

Credit Suisse Group (CS) Tuesday introduced a new bonus payout plan for its top executives, including more closely linking awards to the bank's overall profitability.

A survey by specialist consultancy Scorpio Partnership of 14,000 private bankers and 7,000 wealthy individuals showed that private wealth managed by banks and investment managers around the world decreased nearly 17 percent to $14.5 trillion in 2008 from a year earlier. The fall in managed wealth, the first since 2002, highlights the industry pressures of the

Swiss Re and Credit Suisse announced the appointment of new chairmen. Walter Kielholz is to become a new chairman of Swiss Re and Hans-Ulrich Doerig is expected to occupy the same position at Credit Suisse.

Walter Kielholz, new chairman of Swiss Re will replace Peter Forstmoser. Forstmoster will resign from the board on May 1. Kielholz has held a position of a chairman at Credit Suisse before.