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Credit Suisse's decline culminated in its takeover by UBS on March 19, 2023, following years of gradual disintegration. Despite ambitious restructuring plans under the "Kilimanjaro" project, the bank faced a catastrophic loss of client trust, exacerbated by the SEC's ban on its annual report and a bank run triggered by the collapse of Silicon Valley Bank. As clients withdrew billions, the internal control failures and ongoing disputes with regulators pushed Credit Suisse to the brink of insolvency.
Lombard Odier has appointed Nicolas Walon as the new Head of Global Market Services, effective March 2025. With 25 years of experience in cross-asset derivatives, he joins from Bank J. Safra Sarasin, where he led Financial Engineering, and has held senior roles at major investment banks in London and New York. Paul-Andre Pittard is currently overseeing the division on an interim basis.
Michael Strobaek
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
credit suisse's downfall and the failed kilimanjaro restructuring project
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07:48 24.03.2025
lombard odier appoints new head of global market services starting 2025
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Nicolas Walon
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08:51 05.11.2024
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