Credit Suisse to Merge Investment Banking, Trading Divisions
- The bank is expected to officially announce the merger tomorrow.
The Credit Suisse Group is expected to announce the Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term of its investment banking unit and capital markets unit and also its risk and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term units, thus reversing the splits made five years ago.
Reported by The Straits Times on Wednesday, Thomas Gottstein, the chief executive of the Group, is seeking to tighten his control and thus boost the performance of the investment bank. The bank is likely to make the official announcement on Thursday when the quarterly results will be publicized.
Notably, the investment banking unit of the bank was posting losses for the past few quarters, and the merger might increase profitability. This can also be seen as a reputational overhaul following the scandals associated with the company.
“Our strategy works,” the Switzerland-headquartered bank said in a statement. “We are a leading, global wealth manager with strong investment banking capabilities. On an ongoing basis, we consider a broad range of options to identify ways to further improve how we serve our clients and achieve our strategic goals in a compliant, profitable way. We are in a constant dialogue on these topics with our investors.”
A long-pending merger proposal
Gottstein took charge of the investment bank in February and since then considering a merger of its units. In the investment banking sector, however, many companies contradict such mergers. Goldman Sachs runs its investment banking and capital markets unit separately while Morgan Stanley CEO oversees both.
Credit Suisse restructuring is also said to be a win-win move for the capital markets division and its head Brian Chin, who turned the poor performing unit to the bank’s one of the key profit contributor.
Meanwhile, the bank is also focusing on its Chinese business and recently became the majority stakeholder in its Chinese joint venture. It also made a couple of senior appointments at the Chinese division.
The Credit Suisse Group is expected to announce the Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term of its investment banking unit and capital markets unit and also its risk and Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term units, thus reversing the splits made five years ago.
Reported by The Straits Times on Wednesday, Thomas Gottstein, the chief executive of the Group, is seeking to tighten his control and thus boost the performance of the investment bank. The bank is likely to make the official announcement on Thursday when the quarterly results will be publicized.
Notably, the investment banking unit of the bank was posting losses for the past few quarters, and the merger might increase profitability. This can also be seen as a reputational overhaul following the scandals associated with the company.
“Our strategy works,” the Switzerland-headquartered bank said in a statement. “We are a leading, global wealth manager with strong investment banking capabilities. On an ongoing basis, we consider a broad range of options to identify ways to further improve how we serve our clients and achieve our strategic goals in a compliant, profitable way. We are in a constant dialogue on these topics with our investors.”
A long-pending merger proposal
Gottstein took charge of the investment bank in February and since then considering a merger of its units. In the investment banking sector, however, many companies contradict such mergers. Goldman Sachs runs its investment banking and capital markets unit separately while Morgan Stanley CEO oversees both.
Credit Suisse restructuring is also said to be a win-win move for the capital markets division and its head Brian Chin, who turned the poor performing unit to the bank’s one of the key profit contributor.
Meanwhile, the bank is also focusing on its Chinese business and recently became the majority stakeholder in its Chinese joint venture. It also made a couple of senior appointments at the Chinese division.