The new Chairman of the Board of Directors Antonio Horta-Osorio is restructuring Credit Suisse. The core business with rich and super-rich private customers, which was previously divided into three divisions, is bringing the scandal-ridden major Swiss bank together in one division, as Credit Suisse announced. In the business, the bank wants to get out of around ten non-core markets. At the investment bank, which caused the institute to suffer a loss of five billion francs when the Archegos hedge fund collapsed in the spring, Credit Suisse is again using the knife. The institute wants to largely say goodbye to so-called prime brokerage. In addition, the corporate banking exposure is to be optimized and the portfolio of long-term structured derivatives is to be reduced.
Investment banking – Credit Suisse is being restructured – Economy
