Cutting right to the chase.
Credit Suisse may face more structural changes after a current plan to shrink investment banking and cut costs, CEO Tidjane Thiam was quoted as saying by Finanz und Wirtschaft newspaper on Friday.
Reuters reports that the bank said last week it plans to raise $6.3bn from investors, trim its investment bank and cut jobs as Thiam embarks on the biggest revamp of the lender in almost a decade.
Asked in an interview with the Swiss newspaper whether the current changes will be followed by further restructuring, Thiam said: 'You are cutting right to the chase of the matter'.
'It's a two-step process. One grows, raises earnings and with this, one gets a free hand to do something else. There is no other way around', the CEO said.
To access the complete Reuters article hit the link below:
New Credit Suisse CEO eyes further restructuring - report
Big Swiss banks face tougher capital rules if they grow - FT