2023-04-24 09:47:58
Credit Suisse’s figures reveal an uncomfortable truth: the global wealth management business has not cushioned its crisis, but rather accelerated it. Because the courted rich fled much faster than other customers. That must also be a lesson for the other banks and the authorities.
Foreign clients have recently left Credit Suisse in droves; faster than the Swiss one anyway.
The last doubts have vanished: Without the state lifebelt and the forced marriage to UBS, Credit Suisse would have gone under in March.
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