The Greensill losses sustained by Credit Suisse – other banks were also affected – were one of a string of mishaps and scandals that contributed to the bank's troubles, culminating in its takeover by UBS earlier this year.

FINMA, the Swiss financial regulator, is looking into former Credit Suisse CEO Thomas Gottstein’s involvement in the implosion of a $10 billion group of funds linked to disgraced financier Lex Greensill, a Swiss newspaper, SonntagsBlick, has reported. 

The Swiss Financial Market Supervisory Authority has started enforcement proceedings against four unnamed former Credit Suisse staffers after concluding in February this year that the lender “seriously breached” its risk-management obligations in the Greensill Capital supply-chain financing affair. 

Gottstein is among the Credit Suisse officials under investigation, the German-language newspaper said on Sunday, citing unnamed sources.  

Bloomberg, which carried a version of the report, said that the spokespersons for FINMA and UBS, which has taken over Credit Suisse, both declined to comment. Gottstein also declined to comment, the publication said.

The collapse of Greensill, and the losses Credit Suisse sustained (other banks were also affected, but less severely) were among a string of missteps and scandals at Switzerland’s second-largest lender, leading up to the dramatic fall in its share prices and exodus of client funds. In turn, this led to the UBS takeover at the behest of the Swiss federal government.

After the Greensill collapse, Credit Suisse commissioned an external investigation carried out by Deloitte and Swiss law firm Walder Wyss into the failings of the Greensill funds. 

Separately, a report by the Swiss newspaper Schweiz am Wochenende said that UBS is not considering an IPO of the Swiss domestic unit of Credit Suisse.