Shares of Credit Suisse fell more than 20% on the Zurich Stock Exchange to hit an all-time low. And the company acknowledged in its 2022 annual report that it identified a ‘significant weakness’ in the internal control of the business’s financial information. Similarly, the bank reported that it has developed a plan to rectify this and strengthen its control and risk framework.
why is this happening distrust of depositors, those seeking refuge in safer financial institutions. But what are the company’s jobs in Spain?
business benefits
Headquartered in Zurich, Switzerland, the financial services company operates in Spain through its subsidiary. Credit Suisse Securities Incorporated (CSSSV), based in Madrid. The company, which has 151 employees in the country, has repeatedly stated that it is one of “the key markets for the future development of the private banking business in Europe”, with branches in Madrid, Barcelona and Valencia. According to sources in the sector, the amount of assets managed in private banking in Spain reaches 10,000 million.
The company, which has been in Spain for over 25 years, emphasizes building and sharing a “long-term relationship” and creating sustainable value over time through different economic cycles. Credit Suisse Gestión is the country manager of the Swiss bank, the institution where the bank manages its investment products, including its own branded funds, and above all through designed investment portfolios. customers Private Banking.
Customer service focuses on asset management, asset planning, business advice, investment advice and real estate advice through personal advisors and local experts working to provide personalized value to their clients. Person in charge of ‘wealth management’ in Europe Francesco DeFerrariit also leads Africa and the Middle East.
The bank’s crisis has worsened in recent weeks, but it started much earlier due to scandals across the board and low risk aversion business policy. CEO of Credit Suisse, Tidjane ThiamHe was involved in a media espionage case that cost him his job.
due to resignation Thomas Gottstein – appointed CEO of Credit Suisse – following company losses Ulrich KörnerStarted on 1 August
In Spain, the company suffered a major leak in the management team it headed. first seagull-Despite being associated with the Swiss corporation for 20 years- a year and a half in Iberia responsible for Credit Suisse International Wealth Management and going to Deutsche Bank.
After numerous leaks and crashes by bankers, the group announced losses of 7,400 million euros in 2022 last February, 4.5 times the 1,670 million it had lost a year ago.