FL-2022-000014 - [2025] EWHC 2631 (Ch)

New concentration limits were agreed with the Greensill Group by CSAM as follows.

On 3 July 2020 Mr Greensill, Mr Adam Milenkovic (the Chief Risk Officer in Credit Suisse’s Asset Management division) and Mr Mathys signed an agreement which provided that exposure to Multi-Obligor programmes in the SCF Subfund should be limited to 5% by 31 December 2020. The agreement also imposed an “Additional Limitation” on SoftBank Vision Fund (“SBVF”) -related companies: the total weight would be limited to 7%, with a specific “per program” limit of 3%.

On 22 July 2020 Mr Varvel and Mr Philip Wehle (Head of International Wealth Management at Credit Suisse) recorded that it had been discussed with Mr Greensill “to bring the VF backed companies down to 5% by year-end” and that Mr Greensill was “okay by year end”.