Credit Suisse Group AG is reaping the rewards from a spree of SPACs, The Wall Street Journal reports. Leading the charge is a veteran banker who was among the first to bring SPACs to Wall Street 15 years ago.
The Swiss bank was the top underwriter of so-called blank-check firms last year and is second in early 2021, figures from data provider SPAC Research show. Its role in the suddenly booming sector has been a bright spot as the bank took $1.3 billion in unexpected charges last year and weathered a syping scandal and high-profile company frauds.
Spearheading the blank-check business is head of SPACs Niron Stabinsky, who was hired in 2015 from Deutsche Bank AG. Read more.
