The move is part of a wider overhaul by chairman Antonio Horta-Osorio to turn around the troubled bank.
The Swiss lender is considering moving its Asian investment bank, which currently operates as a distinct entity, into its broader global securities and advisory business as part of its restructuring plan, «Bloomberg» reported on Wednesday (behind paywall).
The bank is currently reviewing operations after the twin scandals of Archegos and Greensill Capital, which have resulted in a series of departures. Centralizing operations would be a blow to local leadership in the region under top regional exec Helman Sitohang – the last man standing from the era of ex-CEO Tidjane Thiam – as it would remove a layer of management in Asia.
According to the report, a decision is due soon, as the Credit Suisse board is meeting next week to discuss the strategic review being undertaken by chairman Horta-Osorio and McKinsey & Co.
Reshuffling of Roles
The developments follow the reshuffling of several senior positions within its Asia Pacific investment banking unit last week, to build its presence in the region.
