Skip to content

Credit Suisse Fires Managers Tied to Failed Greensill Funds

  • All three fund executives had been put on leave in March
  • Former asset management head Varvel is departing as well
Greensill Capital (U.K.) Ltd. offices in the Daresbury Park business estate near Warrington, U.K.

Greensill Capital (U.K.) Ltd. offices in the Daresbury Park business estate near Warrington, U.K.

Photographer: Anthony Devlin/Bloomberg

Credit Suisse Group AG has fired the managers involved in running a $10 billion fund strategy that invested in assets sourced by the now-defunct Greensill Capital.

The Zurich-based bank dismissed former head of asset management in Switzerland and EMEA Michel Degen, head of fixed income Luc Mathys, and portfolio manager Lukas Haas, according to a person familiar. The decision came after initial findings from an investigation into the collapse of the funds were shared with the bank’s board of directors, the person said, asking for anonymity because the information is private.