CREDIT SUISSE GROUP

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Credit Suisse wealth growth initiatives may need to be 'tempered'

06/28/2022 | 07:30am

ZURICH (Reuters) - Credit Suisse's ambitions to redeploy some 3 billion Swiss francs ($3.14 billion) in capital towards its wealth management division by 2024 could be "tempered" due to a more challenging market environment that has emerged since the strategy was set in November, executives said on Tuesday.

"Clearly, the rate at which you see some of the initiatives being deployed has to be tempered given the market environment," Wealth management head Francescso De Ferrari told investors and analysts during an investor presentation, adding the long-term strategy remained unchanged.

(Reporting by Brenna Hughes Neghaiwi, Editing by Louise Heavens)

© Reuters 2022
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