Credit Suisse won't sell investment bank, says chairman
July 22 , 2012
Credit Suisse will not sell its investment bank but is seeking to improve its business model due to the effects of tighter regulations on its profits, according to the Swiss bank's chairman.
"A separation or a sale of investment banking, as is sometimes demanded, would be senseless for our business and our customers," said Urs Rohner in an interview with the Neue Zuercher Zeitung newspaper.
"It's much more about optimising the business model and better balancing it with regard to capital allocation,” he added.
Earlier this week, the bank unveiled measures to shore up its capital base in response to criticism from the central bank.
It also announced new cost cuts, including at the investment bank.