Credit Suisse Restructures Investment Banking Divisions
(3 August 2020 – Europe) Credit Suisse’s CEO, Thomas Gottstein, has made a strategic decision to merge its global market trading with its investment banking division after quarterly trading profits jump by 24 percent.
This decision will shift the bank away from the structure introduced by Gottstein’s predecessor, former CEO Tidjane Thiam, who positioned the bank to accommodate separate investment divisions.
The investment banking integration will also include the Asia-Pacific markets which has been traditionally managed regionally.
As part of the bank’s internal merge, Credit Suisse has also said that there will strongly focus on sustainable investments. The bank plans to designate more than US$ 300 billion towards sustainable finance.
“Investment banking has now become inseparable from other independently managed wealth divisions. A collective effort to management investments and wealth under a clear plan has been a key driver towards change” commented East & Partners Europe Market Analyst, Pierre Sokoya.