Credit Suisse Shifts Focus to Wealth Business
Credit Suisse Group AG will raise about 6.05 billion Swiss francs ($6.3 billion) of capital as part of a broad reorganization that will increase the bank’s focus on Switzerland and wealth management in Asia as it scales back the securities unit. The bank said it plans an initial public offering of its Swiss banking unit by the end of 2017 to take advantage of consolidation in the country.
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