Just a few days ahead of its first quarter earnings report for 2016, Switzerland’s number two bank has made another adjustment to the structure of the group.
Following major internal restructuring in October last year Credit Suisse has announced yet a another strategy reorganisation and is placing asset management under the twin direction of its wealth management and Swiss banking divisions.
It was announced over the weekend in the Swiss media that the bank will create a joint venture in which international wealth management and its Swiss universal bank will hold equal roles in running the asset management department.
CEO's Vision
Announced with much fanfare last October, the international wealth management and the Swiss universal bank were created under Chief Executive Tidjane Thiam's restructuring plan.
«Through the joint venture, we are acknowledging that asset management is on the one hand a global business, but on the other is deeply rooted in Switzerland,» said Christoph Meier a spokesperson for the bank.
