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Euro am Sonntag reveals something is wrong here! Credit Suisse times three | Message

Tuesday, October 31st, 2017 | bitcoin updates

by Jörg Lang, Euro on Sunday
Maybe it is a bit naughty, but not inappropriate from the impression of trying the picture in the case of Credit Suisse and RBR Capital. The small hedge fund has challenged the financial giant. RBR founder Rudolf Bohli is – like others – dissatisfied with the development of the group and its shares. To reverse the trend, he calls for a tripartite division of the group.
How does that work? Under the old legal framework, Bohli would leave traditional asset management together with the Swiss universal bank. The investment bank is to be floated in the USA with domicile London or New York and the asset management can be listed as an independent company in Zurich. Bohli believes that sharing will free up forces and allow shareholders to double their stakes in 18 to 24 months.
 Bohli's investment at Credit Suisse is quite substantial at around CHF 100 million, but relatively small with a share of total capital of not even 0.3 percent. Therefore, the management is left to CEO Tidjane Thiam outwardly. But behind the scenes Bohli has stirred up a lot of dust. Indeed, analysts have predicted that an IPO of the investment bank would not be possible without a massive capital increase in the tens of billions. Does it make sense, then, to provide cross-subsidization to an area that is not even viable?
If Credit Suisse were to get a verdict from an external investment bank, the answer would be obvious. And since the stock has also fallen sharply since the takeover of restructuring company Thiam in mid-2015 and the prices have been massively diluted by a major capital increase, it is not presumptuous to believe that other shareholders will soon be rubbing against Credit Suisse.
Our columnist Jörg Lang has been dealing with equities since 1988. Image sources: Simon Zenger / Shutterstock.com, Pincasso / Shutterstock.com


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