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CS

Credit Suisse Group AG

6/19/2013, 12:40 PM ET

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Monday, June 17, 1:52 AM KKR (KKR), Blackstone (BX), Carlyle (CG) and prospective strategic buyers such as U.K.-based Inmarsat (IMASF.PK) and Australia's NewSat (NWTLD.OB) are among the suitors to have reportedly placed first-round bids for the satellite operations of Singapore Telecoms' Australian unit, Optus, which SingTel values at over A$2B ($1.9B). SingTel advisers Credit Suisse (CS) and Morgan Stanley (MS) will provide a loan of A$1.7B that the acquirers can use to finance the deal. Comment! [Financials, Tech, Consumer, M&A]
Thursday, June 6, 11:56 AM One reason Credit Suisse (CS) is still trying to unload its P-E fund-of-fund unit - Customized Fund Investment Group - is it told several interested parties not to put in a bid, reports Dan Primack. A bank source claims Credit Suisse was worried negotiations might cause senior managers to quit and fund investors to exit. Primack's not necessarily buying the explanation, and believes the bank should be most concerned with maximizing shareholder value. Comment! [Financials]
Thursday, June 6, 7:06 AM It may be a coup for Credit Suisse (CS) as the bank reportedly is set to take the lucrative leading role in the expected Alibaba IPO whose size is expected to rival that of Facebook's $16B offering last year. Total fees for the deal could come to about $260M. Bankers expect the IPO either later this year or early 2014. Comment! [Financials]
Thursday, May 30, 1:47 PM Elbit Systems (ESLT -0.3%) settles its lawsuit against Credit Suisse (CS +2.7%). Under the terms of the settlement, it will withdraw its suit in return for the payment of an undisclosed amount. Earlier this year, Credit Suisse lost a bid to dismiss the suit, after a federal judge ruled that the Israeli defense contractor had provided sufficient information to claim the bank aided and abetted the crimes of former brokers Julian Tzolov and Eric Butler. Both men were convicted of fraudulently selling subprime securities to corporate clients. Comment! [Global & FX, Financials]
Tuesday, May 28, 6:52 AM JPMorgan (JPM) looks to further build its hedge fund business in Asia, hiring David Leahy from Credit Suisse (CS) as managing director and head of Asia-Pacific prime services sales, reports the WSJ. He previously had similar duties for EMEA at Credit Suisse. Comment! [Financials]
Monday, May 6, 10:20 AM Assured Guaranty (AGO +3.2%) pops after UBS agrees to pay $358M to settle claims over questionable MBS the bank issued and Assured guaranteed. The cash, says Mark Palmer, will allow Assured to buy back shares continuing to trade at a massive discount to book value. A settlement with Credit Suisse (CS) may be next. MBIA (MBI +3.5%) jumps as well. Comment! [Financials, On the Move]
Friday, May 3, 9:30 PM Credit Suisse (CS) says an ex-emerging markets VP "conducted an after-hours document raid" under cover of a supposed vacation and also e-mailed top secret documents to her personal e-mail account before resigning and accepting a position at Goldman Sachs. CS claims Agostina Pechi "intends to use confidential information to compete with [the firm] and intends to provide this information to her new employer specifically to target CS's clients." Goldman's response: no comment. Comment! [Financials]
Sunday, April 28, 3:17 AM Credit Suisse (CS) and Texas-based Lone Star Funds have agreed to pay €6.7B ($8.7B) to acquire the the assets of Royal Park Investments, a vehicle created in May 2009 to manage the toxic assets of Belgium's collapsed Fortis bank. The Belgian government, one of Royal Park's largest shareholders, will receive €1B, thereby allowing it to cut its debt by 0.2% of GDP. Fortis successor company Ageas, an insurer, will receive €1.04B. (PR) Comment! [Financials, Top Stories, M&A]
Wednesday, April 24, 5:46 AM Credit Suisse (CS): Q1 EPS of $0.85 misses by $0.01. (PR) Comment! [Earnings, Breaking News, Financials]
Wednesday, April 24, 12:05 AM Notable earnings before Wednesday’s open: ABB, ABX, ASH, ATI, AVY, BA, BYD, CFR, CKSW, COR, CP, CS, CVE, DPS, EDU, ELN, EMN, ERIC, F, FDML, GD, GLW, GRA, HCBK, HES, ICON, LAD, LL, LLY, LO, MDCO, MSI, MTH, NDAQ, NOC, NS, NVS, NYCB, OC, OCR, OSIS, PG, PLD, PX, RES, ROK, S, SO, SVU, TEL, TKR, TMO, TROW, TUP, USG, VLY, VMED, WAB, WHR, WLP, WM, WYN Comment! [Earnings]
Tuesday, April 23, 5:30 PM Notable earnings before Wednesday’s open: ABB, ABX, ASH, ATI, AVY, BA, BYD, CFR, CKSW, COR, CP, CS, CVE, DPS, EDU, ELN, EMN, ERIC, F, FDML, GD, GLW, GRA, HCBK, HES, ICON, LAD, LL, LLY, LO, MDCO, MSI, MTH, NDAQ, NOC, NS, NVS, NYCB, OC, OCR, OSIS, PG, PLD, PX, RES, ROK, S, SO, SVU, TEL, TKR, TMO, TROW, TUP, USG, VLY, VMED, WAB, WHR, WLP, WM, WYN Comment! [Earnings]
Tuesday, April 23, 8:29 AM Already under plenty of regulatory pressure for reform, Swiss banks now face increasingly restive shareholders over compensation. ISS has recommended owners reject a Credit Suisse (CS) plan to issue 27M shares with which to pay executives. Last year the proxy advisory firm nearly led a defeat of a UBS pay plan. Comment! [Financials]
Tuesday, April 23, 7:37 AM Credit Suisse (CS) pulls back further from alternative investments amid the Volcker Rule, selling Strategic Partners - its P-E unit with $9B in AUM - to Blackstone (BX) for an undisclosed price. Comment! [Financials]
Monday, April 22, 12:19 PM New regulations here and across the pond will eliminate $17B of trading revenue from the global banks, says Deutsche Bank - about 9% of total sales last year. The costs will be onerous enough, says Deutsche, as to maybe force the departure from FICC (bonds, commodities, currencies) trading of any firm with less than 6% market share. At risk: HBC, RBS, CS, MS, SCGLY.PK. UBS has already exited. 3 Comments [Financials]
Wednesday, April 17, 1:38 PM "Too little has been changed to avoid a repeat of the problem," says the Boston Fed's Eric Rosengren, arguing banks with broker-dealer units continue to hold too little capital. "The status quo represents an ongoing financial stability risk." The largest ones still standing are MS, UBS, GS, C, DB, CS, BAC, BCS, and JPM, and each of the U.S. ones passed the Fed stress test and are returning capital. 5 Comments [Financials]
Friday, April 12, 6:00 AM A break-up of the big banks is on the minds of none other than analysts at the banks themselves. Wells Fargo reckons shareholders might "intensify demands" for it, especially as the likes of Bank of America (BAC), Citigroup (C) and JPMorgan (JPM) trade at discounts of 25-30% to more-focused rivals. JPM's analysts have questioned the viability of running an investment bank "as part of a universal banking business." 7 Comments [Financials, Top Stories]

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