Monday, 4 May 2015
Last updated 6 hours 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…