The two heads of Credit Suisse’s top brokerage are leave just weeks after the bank reported a loss of at least $ 4.7 billion related to the Archegos Capital family office.
John Dabbs and Ryan Nelson have resigned from their leadership positions that provide specialized services for hedge funds, according to an employee memo published by the Financial Times.
They are the latest on a growing list of senior and mid-tier leaders to leave as the bank struggles over a dual crisis involving Archegos Capital and supply chain finance firm Greensill Capital.
The Swiss lender previously announced the departure of Brian Chin, head of investment banking and Lara Warner, its chief risk and compliance officer.
British Prime Minister Boris Johnson ‘My trip to India this month has been Canceled When the country fights with a new variation and an increase in cases.
Vaccine Sputnik V coronavirus of Russia only one 97.6% efficiency rate, its developers said, based on data from nearly 4 million people.
Australia will ask the EU removal of export restrictions about vaccines. Canberra blamed the EU for the delay affecting 3 million doses of Oxford / AstraZeneca explosives.
On the news
Chinese carmakers challenge Tesla Chinese carmakers will use it
This week’s Shanghai auto show opens on Monday, to show off more than a dozen new electric models and technologies designed to appeal to younger buyers.
Insider trading complaints against Deutsche board members German financial watchdog has File a criminal complaint against Alexander Schütz, a member of the Deutsche Bank’s supervisory board, over the insider trading of Wirecard shares.
Super League clubs net € 200 million – € 300 million in prize money Twelve football clubs have signed a binding agreement to form a new guaranteed European “Super League” The “Welcome Bonus” is worth € 200 million – € 300 million eachAccording to those with direct knowledge of the transaction there is has fueled indignation from the fans to the head of government. Registration for us Transcript sports business newsletter for more.
Meituan raised $ 10 billion in the postponed deal after the share price fell One of China’s biggest internet companies has a plan raised about 10 billion dollars in a equity deal and debt was delayed by an explosion that caused its shares to plunge last week. The food delivery giant, backed by tech conglomerate Tencent, will raise about $ 7 billion in equity and sell $ 3 billion in convertible bonds.
Prosecutor said Chauvin ‘badge of treason’ in the Floyd case Derek Chauvin “Betrayed the badge” in the killing of George Floyd, prosecutors said. The attorneys of the former Minneapolis police officer countered that his use of force was justified, while concluding the argument in the high court. The Biden administration is considering private considerations how to handle the judgment. (FT, AP)
Navalny moved to the prison hospital Russia’s prison regulator on Monday said it had moved opposition leader Alexei Navalny to prison to a prison hospital after supporters warned his condition had worsened almost three weeks after the hunger strike.
Nasa celebrates the first helicopter flight on Mars On Monday morning, a small helicopter called Ingenuity just three meters above the surface of Mars, hovering for half a minute, spun and landed again. Those 40 seconds represent what Nasa engineers call the “Wright Brothers’ moment” – the first powered, piloted flight of an aircraft on another planet.
Income The investors will focus on subscriber figures when Netflix updates on Tuesday. The video streaming company is looking to expand its customer base in markets like India. Other companies report on Tuesday including Johnson & Johnson and Procter & Gamble.
UK labor market data Before UK release of February and March job data above Tuesday, the Pound hit a two-week high against the dollar. This week’s data release is expected to provide evidence of the UK economy’s recovery. (FT, Reuters)
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What else we are reading
Matsuyama’s golf record is also Japanese Considering how the world’s third largest economy fell apart and how much effort has been made to achieve this result, Writes Leo Lewis. After a slow start in the early 20th century, Japan’s golf addiction skyrocketed with economic growth since the 1970s.
Singapore pioneered pandemic era meetings Maybe the future of tourism will be more like a tourist room in prison than a business lounge? It was an unhappy thought, but one James Crabtree struggled recently when visiting a Singapore facility designed to allow Vibrant safety meetings behind windshields.
The European Super League will ring antitrust alarm bells Competition makes professional sports as attractive as one The spectacle is more than an investment. Plans for a new “shutdown” Super League have raised concerns about potential anti-competitive activity – such as possible retaliation by disgruntled football regulators. .
Query Wirecard: The elite of Germany revealed The investigation of Wirecard – revealing a 1.9 billion euro black hole in the company’s finances – has roused the political elite in Berlin and led to a series of resignations. The question is: why did the managers not discover one of these The country’s worst corporate fraud?
After Afghanistan, China and Russia will test Biden As the US prepares to withdraw its troops from Afghanistan, the watcher world will wonder if there is any gap emerging between the White House rhetoric in favor of global re-engagement and the reality of continued retreat, write Gideon Rachman.
US lawmakers warn of the chaos of Libor Thousands of loan, bond and derivative contracts, for a total amount of $ 200 billion, still use the US dollar version of the London interbank rate (Libor) to dominate the Interest payments more than a decade after the fixed-rate scandal. Lawmakers and regulators petition to speed up conversion.
Video of the day
How Covid stretched ports around the world FT’s Trade Secrets editor Claire Jones says very few businesses face pandemic pressures as much as ports around the world. The boom in production and strong consumer demand in the second half of last year has resulted in logjams on major shipping routes.