CEO says Credit Suisse not going to split itself up: paper
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)
- Tweet this
- Share this
- Digg this
- OPEC oil output hits highest since 2012 on Libya, Saudi-Reuters Survey
- Lightning, rain fail to deter resolute Hong Kong protesters
- Kurds seize Iraq/Syria border post; Sunni tribe joins fight against Islamic State
- Obama, Modi work to deepen improving U.S.-India ties
- Obama, Modi discuss trade, climate, Islamic State at White House
U.S. President Barack Obama and Indian Prime Minister Narendra Modi worked to deepen improving ties between their countries on Tuesday, but emerged from their second meeting in two days with little in the way of major agreements. Story | Full Coverage
China final HSBC PMI steady in September on stronger global demand but risks remain Full Article