Legal
Senior Credit Suisse Figures Reportedly Warned Over Greensill – Media

A trial in the UK, involving a $440 million lawsuit against Japan's SoftBank over a deal it allegedly coordinated with Greensill Capital prior to its collapse, has revived attention on the saga.
Senior managers at Credit Suisse were
warned against dealing with the Australian financier Lex
Greensill’s eponymous company three years before the collapse of
his Greensill
Capital, a report by the Guardian newspaper in the
UK said yesterday. Other media reports referred to the
matter.
The demise of Greensill, along with other mishaps such as losses
from Archegos
Capital, contributed to a crisis at Credit Suisse and its
eventual emergency takeover by rival UBS in March 2023. The saga
left Switzerland with one universal bank.
Greensill, a supply-chain finance business, also drew a degree of
media attention because it employed former UK prime minister
David Cameron as an advisor.
The newspaper said that the “character judgment” of senior Credit
Suisse managers was challenged in anonymous messages they
received as early as 2018, which raised concerns over the Swiss
bank’s dealings with Greensill, according to a report by Swiss
regulator FINMA,
released under a London court order after a request by the
Guardian and other media, the report said.
The document showed that senior managers were warned several
times about the risks involved in its business dealings with
Greensill and his firm, the 2021 collapse of which contributed to
Credit Suisse’s shocking demise in March 2023, the newspaper
report said. The report said Greensill appeared at the high
court in London this week as a witness in a month-long trial, in
which a former Credit Suisse fund is suing the Japanese tech
investor SoftBank for $440 million over a complex deal it
allegedly coordinated with Greensill Capital before its
collapse.
“This is a legacy Credit Suisse matter. The conduct described in
the report pre-dates UBS’s acquisition of Credit Suisse,” UBS
told WealthBriefing when contacted. FINMA declined to
comment.