An arbitration panel sided with an advisor who claimed that Wells Fargo aided Credit Suisse's scheme to “steal” advisors’ deferred compensation as part of a complicated recruiting arrangement.
European banks are embracing greater flexibility even as their U.S. counterparts try to get workers back to the office.
Credit Suisse Chairman Axel Lehmann reiterated on Monday his support for Chief Executive Thomas Gottstein amid investor unrest over whether he is the right man for the job at Switzerland's second-biggest bank. "I fully back him because he is good," Lehmann said in an interview with broadcaster CNBC at the World Economic Forum annual meeting in Davos, dismissing as "rumours and speculations" talk that Gottstein could be on his way out. Asked specifically about a report that talks had taken place on replacing Gottstein, Lehmann said: "I know that has not taken place, so it is wrong."