Credit Suisse Fallout
Spin-Off of Credit Suisse Swiss Unit Not on Table, SNB’s Jordan Says
- Spinoff of Swiss business is ‘not on the table’ Jordan said
- Central bank chief says full wind-down wouldn’t have worked
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The president of the Swiss National Bank Thomas Jordan played down the likelihood of Credit Suisse Group AG’s domestic universal bank being spun off any time soon, despite the merger with UBS Group AG announced at the weekend.
“A spinoff is not on the table right now,” the central bank chief told reporters in Zurich on Thursday.