Credit Suisse saw CHF 61.2bn (£55.2bn) of asset outflows in Q1 2023, which were “most acute” in the days immediately after its buyout by UBS was announced.
Its flagship wealth management wing saw its assets under management drop by almost 29%, versus the same period last year, down CHF 502.5bn. Credit Suisse said the results were mainly impacted by actions leading up to and stemming from the planned merger between itself and UBS, which caused a "significant deposit and net asset outflows". Credit Suisse chair re-elected at AGM as shareholders reject CEO pay The Swiss giant collapsed in March this year, after its delayed annual results revealed the already scandal-ridden bank was on shaky ground. Combined with the anxieties of a simul...
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