After a disappointing Q1, Credit Suisse is planning to shift around CHF 3 billion of capital into its wealth management over the next three years.
Wealth management’s pre-tax income fell 74 percent year-on-year to CHF 212 million, on an adjusted basis.
Credit Suisse said this drop reflects certain headwinds, including a loss on the equity investment in Allfunds Group of CHF 353 million; litigation provisions of CHF 237 million; and an adverse Russia-related impac...
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