Monday , September 24 2018

Credit Suisse splitting its wealth unit into 7 regions

Bloomberg

About six months after UBS Group AG decided to merge its wealth management businesses into one super-unit, rival Credit Suisse Group AG is said to be taking a different approach.
The bank plans to split its key international private banking unit into seven regions from four, with each having its own management and greater decision-making power, according to people briefed on the matter who asked not to be identified as the plan is private.
An announcement on the reorganisation, dubbed “Project Momentum,” could come as soon as this week, they said.
Switzerland’s second-biggest bank is approaching the final phase of a broader three-year overhaul that aims to focus more on wealth management rather than volatile investment-banking services.

About Admin

Check Also

Singapore warns against Bitcoin scammers

Bloomberg Bitcoin fraudsters are misusing the names of Singapore PM Lee Hsien Loong and his ...

Leave a Reply

Your email address will not be published. Required fields are marked *