Credit Suisse announced that it has taken steps such as separating asset management activities from other activities, in order to avoid in the future a similar scenario to the losses suffered in the Greensill case, in response to the questions of the shareholder Ethos.
The bank has researched its funds to determine if such cases exist and has also optimized structures and procedures in asset management, according to a detailed answer to questions posed by shareholder Ethos ahead of its April 29 general meeting.
The Swiss bank’s reputation has been hit by the collapse a year ago of the assets associated with the British Greensill, for which it is still trying to recover investor funds.
He announced that he expects that legal proceedings will be needed to impose claims on individual debtors and insurance companies and that this may take about five years.
Source: Capital
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