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Credit Suisse May Let Fund Clients Take Hit on Greensill Losses

  • Bank considers that Greensill risks were known to investors
  • Lender pledged to return more cash to investors by mid-April
A Credit Suisse logo above the entrance to a Credit Suisse Group AG bank branch in Murten, Switzerland.
Photographer: Stefan Wermuth/Bloomberg

Credit Suisse Group AG is leaning toward letting clients foot the bill for eventual losses in funds that the bank ran with former billionaire Lex Greensill’s company, according to a person familiar with the matter.

The bank considers that the risks around Greensill were known and the funds were only marketed to investors able to assess such risks, the person said, declining to be identified discussing private matters. The Zurich-based lender didn’t take any substantial loss due to Greensill in the first quarter.