The bank intends to sell profitable sections like its securitized products business, according to proposals made to its board of directors, in order to avoid a catastrophic capital increase, the newspaper stated, citing reliable sources.
Reuters contacted Credit Suisse for comment, but they did not respond.
The investment bank would be divided into three parts: the advising business of the group, which might later be spun off into a separate firm; a “bad bank” with high-risk assets planned for winding down; and the rest of that business.
The publication cited Credit Suisse as stating, “We pledged to update on the progress of a complete review of our strategy when we report our Q3 results. It would be premature to speculate on any prospective results until then.”
source: ft.com, reuters.com
