The investment bank will be right-sized.
Here are Credit Suisse's three fundamental strategic objectives, details in the announcement made today:
1. To expand profitably Credit Suisse’s position in its home market by growing its Swiss Universal Bank that aims to become the bank of choice for Swiss private, corporate and institutional clients. The development of an efficient, integrated banking platform combined with a planned IPO will offer Credit Suisse an opportunity to participate in domestic consolidation opportunities. The Swiss Universal Bank will be a unique equity story of a universal bank, focused on the wealthy and profitable Swiss market.
2. To scale up its private banking and wealth management franchise in the attractive markets of Asia, Eastern Europe, the Middle East, Latin America and Africa. The bank will accelerate its growth in Asia Pacific by allocating more capital to serve the wealthy entrepreneurs of this region via a dedicated, integrated APAC division. In other emerging markets, the newly established International Wealth Management division will replicate the successful “Bank for Entrepreneurs” APAC model.
2. To right-size the Investment Bank by focusing on its superior capabilities that best support wealth management client needs. This is designed to result in higher profitability with lower capital usage and lower volatility in earnings.
To see the full Credit Suisse announcement, press here