https://www.scmp.com/rss/523504/feed The latest news and top stories on Credit Suisse. A former Swiss global investment bank and financial services firm, it was headquartered in Zurich, Switzerland, and had a significant global presence. It specialised in investment banking, private banking (wealth management) and asset management, serving wealthy individuals, institutional clients and corporations worldwide. Known for its client-centric approach and historically for strict confidentiality, Credit Suisse was considered a global... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Bloomberg Bloomberg Archegos Capital Management founder Bill Hwang is seeking a presidential pardon for his conviction in a high-profile Wall Street fraud case over the collapse of his US$36 billion family office, which scorched banks and helped topple Credit Suisse Group AG. Hwang, who is free on bail while appealing against the verdict behind his 18-year sentence, submitted a pardon application to the US Justice Department last year, according to a notice on the DOJ’s website. In 2024, a jury found him guilty of... https://www.scmp.com/news/world/united-states-canada/article/3340744/archegos-bill-hwang-seeks-trump-pardon-fraud-cost-banks-us10-billion?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3340744/archegos-bill-hwang-seeks-trump-pardon-fraud-cost-banks-us10-billion?utm_source=rss_feed Wed, 21 Jan 2026 18:08:55 +0000 Cao Li Cao Li The assets managed by UBS Group in the Asia-Pacific region recently surpassed US$1 trillion, out of the bank’s global total of US$6.6 trillion, it said on Thursday. As clients seek diversification across markets amid geopolitical tensions, “our global wealth management in the Asia-Pacific region recorded the highest net new asset growth to [US$11.1 billion] in the second quarter among all regions”, said Amy Lo Choi-wan, the firm’s chairman of global wealth management in Asia and CEO of UBS Hong... https://www.scmp.com/business/banking-finance/article/3325238/ubs-says-its-managed-assets-asia-pacific-region-recently-surpassed-us1-trillion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325238/ubs-says-its-managed-assets-asia-pacific-region-recently-surpassed-us1-trillion?utm_source=rss_feed Thu, 11 Sep 2025 13:29:47 +0000 Jean Iau Jean Iau The Monetary Authority of Singapore (MAS) has issued nine banks, capital markets services licence holders and trust companies composition penalties totalling S$27.45 million (US$21.55 million) over breaches tied to a S$3 billion (US$2.36 billion) money-laundering case that shook the city state. MAS said on Friday the latest regulatory moves marked the end of enforcement action against financial institutions with connections to the case. All nine financial institutions have accepted the penalties... https://www.scmp.com/week-asia/economics/article/3316965/singapore-fines-9-firms-us22-million-over-mega-money-laundering-case?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3316965/singapore-fines-9-firms-us22-million-over-mega-money-laundering-case?utm_source=rss_feed Fri, 04 Jul 2025 09:31:07 +0000 Bloomberg Bloomberg Tennis superstar Roger Federer is now one of the few athletes who can count themselves a billionaire. Federer, who won 20 grand slam titles between 2003 and 2018, amassed US$130.6 million in prize money during a 24-year playing career that ended in 2022. But the bulk of the Swiss star’s wealth has come via a series of bumper sponsorship deals, alongside an astute investment in a local sneaker brand. His net worth is about US$1.3 billion, according to the Bloomberg Billionaires Index, putting him... https://www.scmp.com/sport/tennis/article/3316201/roger-federers-long-term-deals-see-him-become-tennis-first-billionaire?utm_source=rss_feed https://www.scmp.com/sport/tennis/article/3316201/roger-federers-long-term-deals-see-him-become-tennis-first-billionaire?utm_source=rss_feed Sat, 28 Jun 2025 12:00:14 +0000