Published 2 years ago

Credit Suisse to split investment bank: Report

Summary by Ground News

Credit Suisse is planning to reveal the new strategy at its third-quarter results on Oct 27. The bank has racked up losses as it deals with the fallout from the implosion at Archegos Capital Management as well as the collapse at Greensill Capital. Ulrich K�rner was appointed chief executive during the summer to shake-up the bank after a number of scandals rocked the bank's public image.

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Reuters

Credit Suisse considers investment bank split into 3 = FT paper

[22nd Reuters] - Swiss financial giant Credit Suisse Group has put together a plan to split its investment banking division into 3 parts. The English Financial Times (FT) reported on the 22nd. It is said that they are considering selling highly profitable divisions such as the securitized commodities business in order to prevent unfavorable capital build-up. According to reports, the investment banking division plans to split into three parts: a…

2 years ago·United Kingdom

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RTÉ

Credit Suisse mulls splitting investment bank in 3

Credit Suisse Group has drawn up plans to split its investment bank in three, the Financial Times reported today, as the Swiss lender attempts to emerge from three years of relentless scandals.

2 years ago·Ireland

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Benzinga

Credit Suisse Mulls Splitting Investment Banking Unit, Outlines Plans - Credit Suisse Group (NYSE:CS)

Credit Suisse Group AG (NYSE: CS) weighs splitting its struggling investment bank business into three parts, which could involve thousands of job cuts as the Swiss bank reshapes its business.The bank has drawn up plans to split its beleaguered investment banking unit, including resurrecting a so-called 'bad bank' to hive off unwanted assets, the Financial Times reported citing people familiar with the matter.The latest proposals under considerat…

2 years ago·New York, United States

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Bloomberg

Credit Suisse Considers Plan to Resurrect ‘Bad Bank,’ FT Reports

Credit Suisse Group AG is considering plans to resurrect a “bad bank” to hold risky assets, as it seeks a turnaround from losses and scandals, the Financial Times reported, citing people familiar with the matter.

2 years ago·United States

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