Thursday, 28 May 2015
Last updated 1 min ago
Oct 28 2008 | 2:00am ET
For Credit Suisse, the collapse of Lehman Brothers Holdings helped create the only bright spot in its third quarter earnings report.
The bank’s prime brokerage unit added 117 billion Swiss francs (US$100.9 billion) in assets during the third quarter. By contrast, it’s securities unit posted a 3.23 billion Swiss franc loss, due to trading losses and write-downs.
Last week, CEO Brady Dougan said the firm’s prime brokerage could have added even more assets but for its being “selective in terms of counterparties and collateral onboarded.” Credit Suisse says it turns down about two-thirds of prospective hedge fund clients.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…