After shucking some parts of Credit Suisse’s investment bank portfolio deemed nonessential, UBS expects annual cost savings of over USD 8 billion by 2027, he said.

Source: https://indianexpress.com/article/business/banking-and-finance/swiss-regulators-defend-credit-suisse-rescue-ubs-deal-8540390/

And second, many were surprised to see some of Credit Suisse’s bondholders get completely wiped out, while shareholders received a measly CHF 0.76 per share, down 59% from the last closing price.

Source: https://seekingalpha.com/article/4593690-q1-2023-macro-update-banks-come-under-pressure?source=feed_all_articles

At the time, it traded at 10.6x Credit Suisse’s 2023 EPS estimate compared to 8x for its financial services peers.

Source: https://investorplace.com/2023/02/3-stocks-to-sell-now-according-to-analysts/

Brady W. Dougan, who served as Credit Suisse’s CEO from 2007 to 2015, was named in the suit.

Source: https://nypost.com/2023/06/21/credit-suisse-investors-sue-over-toxic-culture-at-nyc-office/

Clarissa Haller of the public relations agency Dynamics Group in Zürich, Credit Suisse’s mistakes are “a wake-up call.”

Source: https://foreignpolicy.com/2023/05/01/social-media-banks-bank-run-credit-suisse-silicon-valley-first-republic/

Credit Suisse’s business model, and business … was deeply flawed, and its reputation severely damaged,” he said.

Source: https://business.inquirer.net/418509/ubs-to-absorb-credit-suisse-domestic-unit-eyes-3000-job-cuts

Credit Suisse’s involvement in a series of corporate collapses spooked clients who began withdrawing their money, a trend that accelerated when US bank failures sparked fear of a broader banking crisis.

Source: https://cyprus-mail.com/2023/05/17/ubs-says-it-was-rushed-into-unwanted-credit-suisse-rescue-merger/

Credit Suisse’s stock fell by as much as 30 per cent yesterday before ending at 24 per cent, triggering an emergency trading halt on the Swiss stock exchange.

Source: https://www.dailymail.co.uk/news/article-11865507/Credit-Suisse-begged-financial-authorities-intervene-sparking-turmoil.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

The shares accelerated losses after the Saudis (commented) …I believe Credit Suisse’s crisis can be solved and the bank will not be let to go belly up,” Franchini said.

Source: https://business.inquirer.net/391237/european-banks-battered-as-credit-suisse-drops-20

UBS Group said on Thursday it would fully absorb Credit Suisse’s domestic bank, adding that it was increasing its ambitions for cost savings to more than $10 billion across the group.

Source: https://indianexpress.com/article/business/banking-and-finance/ubs-absorb-credit-suisse-domestic-bank-seeks-10-billion-cost-cuts-8917363/