ZURICH, Nov 18 (Reuters) – The Swiss arm of Credit score Suisse’s funding financial institution will likely be largely unaffected by the restructuring plan the financial institution introduced final month, stated Jens Haas, head of funding banking Switzerland.
“We are going to retain our full footprint right here in Switzerland, so from a consumer perspective and a market perspective, definitely nothing will change,” he advised Swiss newspaper L’Agefi.
Together with a 4 billion Swiss franc ($4.2 billion) capital increase and hundreds of job cuts, Credit score Suisse is planning to cut back its scandal-hit funding financial institution in a shift in the direction of banking for the rich.
“Funding Banking Switzerland will grow to be part of the Swiss Financial institution division – which had already been the case earlier than this yr,” Haas stated.
By way of pockets share, funding banking Switzerland was the market chief within the alpine state with roughly 13%, he stated.
($1 = 0.9531 Swiss francs)
Reporting by Noele Illien; Enhancing by Kirsten Donovan
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