lukas haas credit suisse

... Mathys ran fixed income at the division and Haas worked in credit â¦ UAE airlines are slashing fares to stimulate summer travel, Saudi Arabia's oil exports fell 21% y-o-y in January, Saudi Bank AlBilad to issue $800mln riyal-denominated sukuk, Oil prices rise 2% on fears Suez blockage may last weeks, India's top court rules in favour of Tata in long-drawn tussle with former chairman, World shares rebound as investors weigh economy against diplomacy, Canada calling? Credit Suisse said in a memo sent to employees on Wednesday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Quickly uncover hidden opportunities with comprehensive data and content. Credit Suisse said in a memo sent to employees yesterday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Hirano said that the $4.6 billion worth of coverage attributed to Tokio Marine Holdings in court filings did not reflect the likely loss. Reuters could not immediately reach Degen, Mathys or Haas â¦ Photo: Markus Hibbeler/Bloomberg News By Margot Patrick Close Margot Patrick March 10, 2021 4:17 am Hong Kong residents shift billions abroad after clampdown, India plans to widen vaccination campaign as infections surge. Tokio Marine's exposure to Greensill comes via a company it bought from Insurance Australia Group in 2019. The Swiss bank was a key source of funding for the speciality finance firm, selling $10 billion worth of securities created by Greensill to investors via its asset management arm. Japanese insurer Tokio Marine Holdings Inc 8766.T , which provided $4.6 billion of coverage to Greensill credit notes, said on Wednesday that it was investigating the validity of those policies. Credit Suisse said in a memo sent to employees on Wednesday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. A logo of Credit Suisse is pictured on a building in Geneva, Switzerland, November 8, 2017. Greensill Capital filed for insolvency on Monday after losing insurance coverage for its debt repackaging business and Credit Suisse is in the process of liquidating the funds and returning cash to investors. ... Luc Mathys, head of fixed income in the region, and Lukas Haas, â¦ Credit Suisse was advising Greensill on a potential IPO last year and had lent it the $140 million on expectations the loan be repaid when it listed, one of the people said. Credit Suisse has removed three executives at the centre of the crisis. While Haas was nominally the Credit Suisse fundsâ manager, Greensill had wide-ranging control over what assets it put into the fund, according to people familiar with the arrangement. Credit Suisse froze $10 billion worth of funds last week that invested in securities created by the specialty finance firm. Credit Suisse grappled with the fall ... was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Credit Suisse shaken by aftershocks of Greensill insolvency ... was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Credit Suisse said in a memo sent to employees yesterday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. The funds' troubles are a blow for chief executive Thomas Gottstein, who took the helm in the aftermath of a spy scandal and just as the coronavirus crisis struck. Reuters could not immediately reach Degen, Rima or Varvel for comment. In a note to investors on Tuesday, Credit Suisse said it had not been informed of any insurance cancellation "until very recently," and that existing policies from Insurance Australia had remained unchanged. You can change your cookie settings through your browser. Credit Suisse, which was a key source of funding for the speciality finance firm, selling securities created by Greensill to investors via its asset management arm, is â¦ All Rights Reserved. All quotes delayed a minimum of 15 minutes. I would like to thank Filippo and Alexandre for taking on these new responsibilities,” Varvel said in the note. ZURICH- Credit Suisse grappled with the fall-out of Greensill Capital's insolvency on Wednesday, as the head of its European asset management division temporarily stepped aside and it appointed receivers to recover a $140 million loan in Australia. The head of Credit Suisse's European asset management division and two other employees who worked on the bank's Greensill Capital supply-chain ... Luc Mathys and Lukas Haas â¦ Credit Suisse said in a memo sent to employees on Wednesday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Screen, analyze and compare projects in the Middle East and North Africa across Infrastructure, Real Estate, Industrial and Energy sectors with Refinitivâs Eikon. “For the time being, Michel Degen, Luc Mathys and Lukas Haas will not be performing their roles. Greensill, which is still registered in its founder Lex Greensill's hometown city of Bundaberg in Queensland Australia, said in court documents it would be unable to repay the loan. “I have also asked Alexandre Bouchardy to take on the role of ad-interim Head of Fixed Income Switzerland and EMEA,” he said in the note. Reuters could not immediately reach Mathys or Haas for comment. The asset management unit behind the Greensill strategy was hit by a large impairment charge on a hedge fund investment in the fourth quarter. Meanwhile in Australia, two people familiar with the matter said that Credit Suisse had appointed receivers to recover a bridging loan of about $140 million made to a Greensill company. According to their LinkedIn profiles, Mathys ran fixed income at the division and Haas worked in credit risk management. REUTERS/Fabian Bimmer March 10, 2021 By Brenna Hughes Neghaiwi and Makiko Yamazaki ZURICH/TOKYO (Reuters) â Credit Suisse faces questions from regulators and insurers as it grapples with the fall-out from the collapse of $10 billion worth of funds linked to Greensillâ¦ Haas was listed as the fund manager for some of the Greensill funds according to various fund websites. Haas was listed as the fund manager for some of the Greensill funds according to various fund websites. Reuters could not immediately reach Degen, Mathys or Haas â¦ Senior Credit Officer with primary responsibility for credit risk management of corporate clients of the Credit-Suisse International Wealth Management Division. FILE PHOTO: The Greensill Bank is pictured in downtown Bremen, Germany, July 3, 2019. Credit Suisse said in a memo sent to employees on Wednesday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Email us at editorial.zawya@refinitiv.com, or send us your company press releases to pressrelease.zawya@refinitiv.com. Reuters could not immediately reach Degen, Mathys or Haas â¦ Michel Degen, head of asset management in Switzerland and the EMEA region, is being replaced in the interim by Filippo Rima, according to the memo sent to employees on Wednesday and seen by Reuters. Credit Suisse, which was a key source of funding for the speciality finance firm, selling securities created by Greensill to investors via its asset management arm, is â¦ Greensill began to unravel last week after losing insurance coverage for its debt repackaging business, prompting Credit Suisse to freeze its Greensill-linked funds. If Greensill's lending practices did not meet standards laid out in the insurance contract or were inconsistent with normal accounting rules, then an insurer would have grounds to challenge whether coverage applied, supply chain experts have said. Credit Suisse is in the process of liquidating its Greensill funds and has so far made $3.05 billion worth of payments to investors. He declined to comment further. Three Credit Suisse employees, including the head of its European asset management division, who helped oversee the Greensill funds have temporarily stood aside. Copyright Â© 2021 Zawya. The Indian-British steel magnate has said GFG is operationally strong. Classic car prices accelerating by up to 280%, 62mln lost jobs in travel, tourism could return in 2022: WTTC, Outlook: Middle East countries could return to 'relative normality' in second half of 2021, Started planning for holidays? McGrathNicol and Credit Suisse both declined to comment, while Greensill did not return calls seeking comment. Severin Haas. Michel Degen, head of asset management in Switzerland and Europe, the Middle East and Africa, Luc Mathys, head of fixed income in the region, and Lukas Haas, a portfolio manager for the funds, have been placed on temporary leave. Receivers from McGrathNicol have been appointed to attempt to recover the loan from Greensill Capital Pty Ltd after it filed for insolvency protection in London and in Australia on Monday, said the people, who spoke on condition of anonymity. Credit Suisse is in the process of liquidating its Greensill funds and has so far made $3.05 billion worth of payments to investors. Credit Suisse to overhaul unit and suspend bonuses over Greensill scandal. Our Standards: The Thomson Reuters Trust Principles. Credit Suisse said in a memo sent to employees on Wednesday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. According to their LinkedIn profiles, Mathys ran fixed income at the division and Haas worked in credit risk management. (Reporting by Brenna Hughes Neghaiwi in Zurich and Iain Withers in London; editing by Carmel Crimmins). This website uses cookies to improve your online experience. News of the changes was first reported by Swiss publication Finews. Credit Suisse is in the process of liquidating its Greensill funds and has so far made $3.05 billion worth of payments to investors. See here for a complete list of exchanges and delays. He was named on factsheets as the fund manager for the four supply chain finance funds that Credit Suisse is â¦ A source familiar with the situation said the policies were directly linked to the $10 billion worth of funds frozen by Credit Suisse. Credit Suisse, which was a key source of funding for the speciality finance firm, selling securities created by Greensill to investors via its asset management arm, is â¦ UAE international reserves surge to $141.41bln, Gulf Capital buys U.S. health tech firms for $60mln, plans to expand, UAE announces $10bln investment in Indonesia on MBZâs directives, Lootah's fractional ownership platform gets good response in UAE, Oman launches initiative to draw private investments, Best asset class? Credit Suisse said in a memo sent to employees on Wednesday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. Reuters could not immediately reach Degen, Mathys or Haas â¦ Credit Suisse declined comment on the probe by Tokio Marine. Reuters could not immediately reach Degen, Mathys or Haas â¦ “I have asked Filippo Rima to take on the role of ad-interim Head of Asset Management Switzerland and EMEA manager,” Eric Varvel, who runs asset management at the bank, said in the memo. Reuters could not immediately reach Degen, Mathys or Haas â¦ Greensill Bankâs offices in Bremen, Germany. <(Reporting by Brenna Hughes Neghaiwi in Zurich and Iain Withers in London; Additional reporting by Paulina Duran in Sydney and Makiko Yamazaki in Tokyo; Writing by Alexander Smith; Editing by Carmel Crimmins) ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;)), Have news to share? "We have concerns about the validity of all Greensill policies and are conducting an investigation," Tokio Marine spokesman Tetsuya Hirano said. It has said further liquidation proceeds will be paid out "as soon as practicable". ... Lukas Haas Credit Risk Management - SME Clients bei Credit Suisse Zürich, Schweiz. Michel Degen has temporarily stepped aside the Swiss bank said. Reuters could not immediately reach Degen, Mathys or Haas â¦ Reuters could not immediately reach Degen, Mathys or Haas â¦ ZURICH, March 10 (Reuters) - The head of Credit Suisse’s European asset management division and two other employees who worked on the bank’s Greensill Capital supply-chain finance funds have temporarily stepped aside, according to an internal bank memo. Credit Suisse announced the termination of the supply chain finance strategies last week, and said that it is impossible for the funds to be managed as intended. They were placed on your computer when you launched this website. Credit Suisse said in a memo sent to employees on Wednesday that Michel Degen, head of asset management in Switzerland and the EMEA region, was temporarily stepping aside along with managers Luc Mathys and Lukas Haas. The main focus on lending in Emerging Markets and Leveraged Lending transactions. Haasâ temporary removal was reported in the media alongside the suspensions of the asset management divisionâs EMEA head Michel Degen, as well as its fixed income head, Luc Mathys. Reuters could not immediately reach Degen, Mathys or Haas for comment. Credit Suisse froze $10 billion worth of funds last week that invested in securities created by the specialty finance firm. It also said that it faced "defaults" by its key customer, GFG Alliance, which is controlled by Sanjeev Gupta. Greensill Capital filed for insolvency on Monday after losing insurance coverage for its debt repackaging business and Credit Suisse is in the process of liquidating the funds and returning cash to investors. 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