Why Credit Suisse (CS) Shares Are Trading Higher Today

Credit Suisse Group AG’s CS investment bank chief Christian Meissner is set to leave the company in the coming weeks.
An announcement is expected on October 27, alongside the bank’s strategic review.
Meissner’s departure would be the latest in a string of exits at the bank.
Christian Meissner is looking at options, including starting his advisory firm or joining another institution next year, Bloomberg reported.
Related: Credit Suisse Settles Case Related To Residential Mortgage-Backed Securities.
Meissner joined Credit Suisse in 2020 to co-run a newly created group connecting clients of the wealth management unit with investment-banking services.
He took over as Credit Suisse’s investment bank chief in 2021 in the wake of the $5 billion hit from the collapse of Archegos Capital Management.
The Swiss bank has already drawn interest from Apollo Global Management Inc and Mizuho Financial Group Inc for the securitized-products business in the investment bank.
Price Action: CS shares are up 3.87% at $4.55 during the premarket session on the last check Monday.

Credit Suisse's Investment Bank Chief Poised To Depart: Report