About Us Press Release

Press Release

Building on strong 2Q20 performance, Credit Suisse launches key initiatives to reinforce strategy

Series of structural improvements intended to improve effectiveness, drive efficiencies and capture future growth opportunities
  • Credit Suisse reaffirms strategy to be a leading wealth manager with strong global investment banking capabilities
  • Key changes with effect from August 1, 2020:
    • Creation of a global Investment Bank (IB) to build a client-centric global platform with critical scale for corporate, institutional and entrepreneurial clients; including creation of Global Trading Solutions and a globally integrated Equities platform
    • Combined Chief Risk and Compliance Officer (CRCO) function to create alignment across our control functions
    • Launch new Sustainability, Research & Investment Solutions (SRI) function, affirming our commitment to providing our clients a leading offering; aim to centralize and combine our Investment Solutions & Products (IS&P) and research capabilities and deliver on our ambition to become a leader in sustainability; grow with a goal to provide at least CHF 300 billion of sustainable financing over the next 10 years; enhance consideration of biodiversity; transition our corporate oil & gas business by reducing exposure to traditional business; and restrict by introducing new exclusions in thermal coal extraction, coal power, and the Arctic region
  • Refinements based on successful regional approach to Wealth Management:
    • Investments in growth initiatives in Swiss Universal Bank (SUB), International Wealth Management (IWM) and Asia Pacific (APAC)
    • Aim to retain #1 IBCM franchises in Asia1 and Switzerland2 in respective divisions and further build out financing, as well as mid-market M&A and advisory capabilities in IWM
  • Aim to generate run-rate savings of approximately CHF 400 million per annum, from 2022 onwards, allowing for reinvestment in full, subject to market and economic conditions, in growth initiatives across the Group
  • Intend to continue to allocate approximately two thirds3 of capital deployed to Wealth Management4 in the medium term and capture revenue opportunities to accelerate growth

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