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

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

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