Credit Suisse Group AG will shrink parts of its investment bank and focus on growth in Asia and wealth management, Chief Executive Officer Tidjane Thiam said. The shares surged the most since he landed the job four months ago.
“We’re dealing with a really very well-performing investment bank, but where sometimes regulation has developed in an unsupportive or unfavorable way,” Thiam, who took over in July, told analysts on a conference call Thursday after the bank published earnings.
