A Swiss flag flies over a sign of Credit Suisse in Bern, Switzerland
FABRICE COFFRINI | AFP | Getty Images
The Swiss lender now expects a first-quarter pre-tax loss of around 900 million Swiss francs ($960.4 million), after taking a charge of 4.4 billion Swiss francs as a result of the scandal.
“The significant loss in our Prime Services business relating to the failure of a U.S.-based hedge fund is unacceptable,” CEO Thomas Gottstein said in a trading update.
Investment Bank CEO Brian Chin and Chief Risk and Compliance Officer…