Credit Suisse suspends London traders after writedown

02/20/2008 | Times (London) (subscription required), The

After disclosing a surprise $2.85 billion writedown, Credit Suisse suspended a group of traders in London pending an investigation. The group was led by Kareem Serageldin, head of the bank's synthetic collateralised debt obligations globally. CEO Brady Dougan denied the Swiss bank's writedown was the result of anything similar to the scandal at Société Générale.

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