Credit Suisse Reportedly Wants Clients To Absorb Greensill Impact

Tom Burroughes

8 April 2021

is considering letting clients pay the cost for eventual losses in funds that the bank ran with former billionaire Lex Greensill’s company, Bloomberg reported this week, citing an unnamed source. (See a story about the Greensill saga here.)

Credit Suisse declined to comment to this news service on the , saying that two of its senior executives were leaving the bank.

The Bloomberg report said that Credit Suisse had declined to comment on the matter. The newswire said the bank considers that the risks associated with Greensill were known and the funds were only marketed to investors who were able to assess such risks. The Zurich-based lender didn’t take any substantial loss due to Greensill in the first quarter.

The report continued that Credit Suisse’s stance “runs counter to reports last month suggesting executives were considering compensating investors hit by the collapse of the funds."