Credit Suisse Steps Up Cost Cuts as Revenue Eludes CEO Thiam

Updated on
  • Profit goals cut for Asia investment bank, asset management
  • CEO Thiam confirms targets for wealth management operations

Why Credit Suisse Is Stepping Up Its Cost Cutting

Credit Suisse Group AG rose in Zurich trading, leading European bank shares higher, as Chief Executive Officer Tidjane Thiam pledged to cut an additional 1 billion Swiss francs ($1 billion) in expenses and lowered profit targets that were seen as too ambitious.

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