Credit Suisse has drawn up plans to split its investment bank into three and resurrect a “bad bank” holding pen for risky assets, as the Swiss lender attempts to emerge from three years of relentless scandals. Under proposals put forward to the group’s board, Credit Suisse hopes to sell profitable units such as its securitized products business in a bid to stave off a damaging capital raise, according to people familiar with the plans.
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Credit Suisse weighs splitting investment bank into three
“We have said we will update on progress on our comprehensive strategy review when we announce our third-quarter earnings,” Credit Suisse said in a statement. “It would be premature to comment on any potential outcomes before then.”
