Reuters - New C Suisse boss expected to focus on private banking in Asia

Credit Suisse Canary Wharf

Incoming Credit Suisse boss Tidjane Thiam is expected to focus on private banking in Asia while aggressively cutting jobs at its investment bank, as he aims to repeat the success in the region of his old employer, Prudential.

Reuters reports that Thiam could slash 3,000 jobs from Credit Suisse's investment bank, or 15% of staff globally, and cut $149bn of assets from the bank's fixed income, commodities and currencies business as part of that shift, analysts at JPMorgan said.

That may include Asia, where the former insurance executive will find a fiercely competitive landscape, dominated by cross-town rival UBS in the wealth management space and increasingly crowded with aggressive local players in investment banking.

To access the complete Reuters article hit the link below:

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