CEO says Credit Suisse not going to split itself up: paper

ZURICH Wed Nov 21, 2012 12:39am IST

File photo of a Credit Suisse logo is seen on a Credit Suisse office building in Guemligen near Bern February 8, 2012. REUTERS/Pascal Lauener

File photo of a Credit Suisse logo is seen on a Credit Suisse office building in Guemligen near Bern February 8, 2012.

Credit: Reuters/Pascal Lauener

Stocks

   

ZURICH (Reuters) - Credit Suisse's (CSGN.VX) organizational revamp is not a precursor to splitting up the Swiss bank, Chief Executive Brady Dougan said in a newspaper interview.

"We're not going to split up Credit Suisse," Dougan said in an interview with Swiss business publication Finanz und Wirtschaft set to appear on Wednesday.

Earlier on Tuesday, Credit Suisse reinforced its commitment to its fixed income business, all but abandoned by Swiss rival UBS (UBSN.VX), by promoting debt banker Gael de Boissard to run fixed income and head up Europe.

Dougan also denied that a decision to put Credit Suisse's private banking arm in control of the bank's smaller asset management unit and to absorb some investment bank activities was related to a long-running tax probe by the United States.

"The new organization has nothing to do with the U.S. tax dispute. This is a purely organizational change," Dougan was quoted as saying.

Dougan did not elaborate in the interview on the status of negotiations with the U.S. over the tax issue.

(Reporting By Katharina Bart. Editing by Jane Merriman)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Everest Tragedy

Everest Tragedy

Search ends for missing on Everest, some Sherpas call for shutdown.  Full Article 

Ukraine Crisis

Ukraine Crisis

Deadly gun attack in eastern Ukraine shakes fragile Geneva accord.  Full Article 

Hamilton Wins

Hamilton Wins

Lewis Hamilton wins Chinese GP in Mercedes one-two.  Full Article 

Monte Carlo Masters

Monte Carlo Masters

Wawrinka beats Federer to win Monte Carlo Masters.  Full Article 

Happy Easter

Happy Easter

Pope presides at Vatican Mass leading Catholics into Easter.  Full Article 

Box Office

Box Office

'Captain America' soars again, tops 'Rio 2' to win U.S. box office.  Full Article 

Bollywood

Bollywood

Movie Review: 2 States.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage