TKOMY - Credit Suisse hires advisers to help with Greensill fallout

Credit Suisse ([[CS]] -0.5%) hires external firms to help with its investigations after Greensill Capital filed for insolvency, Reuters reports, citing a person familiar with the matter.Switzerland's second-largest bank is dealing with the aftermath of the collapse of $10B of funds linked to Greensill Capital.The head of Credit Suisse's European asset management unit, which sold Greensill-linked supply chain finance funds to investors, and two colleagues are suspended from their roles, the bank said in a memo.The bank is hiring external firms to help speed the process of returning liquidation proceeds from the fund to investors. So far, it has made $3.05B worth of payments to investors, Reuters said.Supply chain finance firm Greensill began to fall apart after losing insurance coverage for its debt repackaging business, which led to Credit Suisse suspending funds that were linked to it.Japanese insurer Tokio Marine (TKOMY), which provided $4.6B of coverage to Greensill credit notes,

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Credit Suisse hires advisers to help with Greensill fallout