NEW YORK, Oct 27 (Reuters) – Harris Associates, a shareholder of Credit score Suisse Group (CSGN.S), stated on Thursday it welcomed the “aggressive” method the Swiss financial institution was taking to enhance its efficiency.
“We welcome the aggressive method CS (Credit score Suisse) is taking to stabilize and enhance the efficiency of each the funding financial institution and the group as an entire,” the activist Chicago-based investor stated in a press release.
Harris stated in one other e mail it has persistently held a stake of round 10% in Credit score Suisse.
Credit score Suisse plans to lift 4 billion Swiss francs ($4 billion) from traders, reduce 1000’s of jobs and shift its focus from funding banking in direction of wealthy purchasers because the financial institution makes an attempt to place years of scandals behind it. learn extra
Reporting by Saeed Azhar
Modifying by Bernadette Baum
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