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Old 23.09.2022, 16:12
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Who else is about to close their Credit Suisse account?

Spoken to a couple of people recently and based on the endless scandals, current share price and all the 'unknowns' they've had enough of it.

Where is better to go next?
neon? zkb? usb?
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Old 23.09.2022, 16:16
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Re: Who else is about to close their Credit Suisse account?

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Spoken to a couple of people recently and based on the endless scandals, current share price and all the 'unknowns' they've had enough of it.

Where is better to go next?
neon? zkb? usb?
I strongly believe they should standardize everything to usb-c.
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Old 23.09.2022, 16:22
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Re: Who else is about to close their Credit Suisse account?

Judging by the share price, it's not a bad idea
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Old 23.09.2022, 16:34
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Re: Who else is about to close their Credit Suisse account?

There are also rumors about closing doors on the USA.

https://www.cnbc.com/2022/09/22/cred...us-market.html

But, this is all about the investment bank. Boring retail banking should be fine.
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Old 23.09.2022, 16:35
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Re: Who else is about to close their Credit Suisse account?

Jokes aside - I worked for a couple of years on the „too big to fail“ Programme of UBS - and the size of and investment into this Programme was enormous. I worked previously at Credit Suisse in their Asset Management as an external, and the best tip I was given is „gin helps“. I designed much of the investment IT architecture that ZKB took over from Swisscanto, and they made great profits this year in relation to the other two candidates.

Anyways - you have to spread your assets across banks, because you are only insured up to CHF 100‘000 losses by any of them if they go down.

As to the SMI share prices - well times have been turbulent this week.
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Old 23.09.2022, 21:53
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Re: Who else is about to close their Credit Suisse account?

I feel bad for all the "normal" CS employees.

Most are probably giving their best. It must be so frustrating to see the pennies made in retail being blown out by the billions in investment-banking.

I think I'd either go totally numb or become an extreme cynic.
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Old 23.09.2022, 22:03
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Re: Who else is about to close their Credit Suisse account?

your deposits are safe... there are many billions of capital and "capital like" to be wiped out before a single cent of deposits is touched.
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Old 23.09.2022, 22:24
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Re: Who else is about to close their Credit Suisse account?

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Spoken to a couple of people recently and based on the endless scandals, current share price and all the 'unknowns' they've had enough of it.

Where is better to go next?
neon? zkb? usb?
technically, your money is with Credit Suisse (Schweiz) AG which is the local company and which , if I remember correctly, is probably the only profitable company of the group right now.

Are you really considering neon which is not really a bank but is partnering with Hypothekarbank Lenzburg which is the actual bank behind it ?!
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Old 24.09.2022, 00:29
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Re: Who else is about to close their Credit Suisse account?

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Spoken to a couple of people recently and based on the endless scandals, current share price and all the 'unknowns' they've had enough of it.

Where is better to go next?
neon? zkb? usb?
How does any of this criteria impact a bank's ability to service you as a member of the public?

Have you considered the colour of the logos? It makes as much sense if you are going to use the above criteria.... actually may be a bit since a particular colour would help make their correspondence stand out in you bunch of documents....
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Old 24.09.2022, 00:38
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Re: Who else is about to close their Credit Suisse account?

To be honest, if I was a client I would consider this as well, even if the swiss saver business is not directly touched and <100k money is safe. It's still mismanaged from the top and companies think more about stuff if there are consequences.

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technically, your money is with Credit Suisse (Schweiz) AG which is the local company and which , if I remember correctly, is probably the only profitable company of the group right now.

Are you really considering neon which is not really a bank but is partnering with Hypothekarbank Lenzburg which is the actual bank behind it ?!
what's wrong with the hypotherkarbank lenzburg?
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Old 24.09.2022, 09:02
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Re: Who else is about to close their Credit Suisse account?

Nothing wrong with HL or Neon, which I have been with for several years.
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Old 24.09.2022, 10:10
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Re: Who else is about to close their Credit Suisse account?

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what's wrong with the hypotherkarbank lenzburg?
Nothing, that is until we read something in the paper, but they are a bank and pretty much every bank runs into a scandal or two, it’s the nature of the business, but none of these things render the bank unable to service the public.

The OP mentioned share price as a criteria… well around 2007 the UBS share price was in the 70s and it fell to around 15, so he rule it out….

On the other hand, banks that got into trouble all had weak T1s, yet it’s not in his criteria, in fact he probably does not know what it is, never mind how to calculate it.
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