Geneva, Switzerland (Tribune de Geneve, Fre) – Credit Suisse, while insisting that it carries no responsibility for the bankruptcy of Lehmann Brothers earlier in September, is reportedly offering to reimburse some of its clients who invested in the US bank’s products, but with strict limitations.
The Tribune interviewed Robert Martin, head of private banking in French-speaking Switzerland. The move is aimed at helping smaller investors: only clients with fortunes of less than CHF500,000 at the bank, and who had invested less than half of their money in Lehmann, are covered.
Posted by Ellen Wallace on 26 September 2008 at 8:33 | permalink
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 26 September 2008.
Filed under: Uncategorized
Tags: Swiss banks
We are happy to have your comments, which are approved before they appear: please remember to be courteous and brief. We accept only comments directly related to an article. We do not accept comment spam - messages sent to more than one site. We do not publish comments if the e-mail address is not legitimate. Thank you!