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Credit Suisse Working on Asset Sales as Part of New Strategy

  • Bank says ‘executing’ on potential divestments, asset sales
  • Investment bank, Latin American wealth unit said to be a focus
Updated on

Credit Suisse Group AG said it’s working on possible asset and business sales as it seeks ways to drive down costs and restore profitability under a strategic plan to be announced next month.

While Credit Suisse didn’t give details on divestments, Bloomberg reported that executives are weighing the sale of its Latin American wealth management operations excluding Brazil. The firm is also exploring deals to sell its securitized products group and considering reviving the First Boston brand name as it cuts back the investment bank, people familiar with the matter have said.