Credit Suisse Tempts Asia’s Wealthy with Higher Deposit Rates
Credit Suisse is offering significantly higher deposit rates to attract new funds from wealthy clients in Asia, aiming to counter recent outflows and retain its bankers. The Swiss bank is providing a 6.5% annual rate on new three-month deposits of $5 million or more, according to three sources familiar with the matter who chose to […]
Harris Associates Sells Entire Stake in Credit Suisse
Harris Associates, once one of Credit Suisse’s largest and longest-standing shareholders, has sold its entire stake in the Swiss bank. The decision comes after Harris lost confidence in Credit Suisse’s strategy to halt ongoing losses and reverse a significant client exodus. Last August, Harris held around a 10% stake in Credit Suisse, but it reduced […]
