Credit Suisse Chairman Pushing Faster Restructuring: Axel Lehmann is stepping on the gas at Credit Suisse and wants to cut the costs of the crisis-ridden big bank more quickly. A greater impact on individual… creditsuisse axellehmann reorganization
Credit Suisse Chairman Axel Lehmann is currently in London explaining the reorganization of Credit Suisse. Following an appearance at a banking summit hosted by «Financial Times» on Thursday, the 63-year-old Chairman told «Bloomberg TV» the following day that he would intensify efforts to restructure the group.
The bank will save over 1.2 billion Swiss francs by the end of next year, so the efforts are aimed at accelerating the restructuring, not delaying it, Lehmann said. Previously trimming costs by that amount was initially seen as an interim goal for 2023.Lehmann reiterated in the interview that outflows of client money have virtually stopped, with customers promising to return to the bank.
The cost savings will likely result in larger job cuts than previously announced for the first phase of reductions, analysts say, and could also affect asset management, the bank's main business area.At the request of finews.ch, Credit Suisse confirmed it continues to assume it will reduce the number of full-time positions from around 52,000 currently to about 43,000 by the end of 2025 using staff reductions and natural attrition.
Through these measures, the bank aims to reduce its cost base by around 2.5 billion francs to about 14.5 billion francs by 2025.According to reports, job cuts will also be made in the syndicated loan and bond department, with at least one-third of its debt sales jobs worldwide going. The bank will reduce the number of employees in the bond syndicate department, which sets the prices for bond transactions, according to a «Bloomberg» report, citing people familiar with the plans.
In addition, the flow business, referring to ordinary investment banking activities such as selling and trading bonds is to be trimmed. The brunt of the cuts will be in Europe, where Credit Suisse has a strong position in corporate bonds and leveraged finance, according to Bloomberg sources.In addition to the cost savings, Credit Suisse is in the process of completing a capital increase of around 4 billion francs.
Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Verlustserie bringt Credit Suisse in die Nähe des AusgabepreisesDie Verluststrähne der Credit Suisse bringt die Aktie immer näher an den Preis, zu dem die Bank ihren Aktionären neue Aktien zum Kauf anbietet.
Weiterlesen »
Credit-Suisse-Aktie auf Rekordtief - Verlust in vier Tagen von 15 ProzentDie Aktien der krisengeplagten Grossbank Credit Suisse sind am Donnerstag weiter gefallen. Der Kurs sackte erneut um mehr als fünf Prozent ab auf ein neues Rekordtief von 2,67 Franken.
Weiterlesen »
Der Credit Suisse droht ein Exodus der Schweizer AktionäreDer CreditSuisse droht ein Exodus der Schweizer Aktionäre: Der tiefe Ausgabepreis in der laufenden Aktienkapitalerhöhung hat mutmasslich erhebliche Folgen für die Eigentümerstruktur.
Weiterlesen »
Outflows Almost Reversed, Credit Suisse Chair SaysOutflows Almost Reversed, Credit Suisse Chair Says: Credit Suisse chair Axel Lehmann, painted a cautiously optimistic picture at a conference in London. In the meantime, analysts are lowering price targets. creditsuisse axellehmann clientoutflows
Weiterlesen »
Credit Suisse verzeichnet teilweise Zuflüsse von KundengeldernDie krisengeplagte Credit Suisse hat den Abzug von Kundengelder gestoppt.
Weiterlesen »
Credit-Suisse-Präsident Lehmann: Trend bei Abflüssen hat teilweise gedrehtBeim Abfluss von Kundengeldern der Credit Suisse ist es teilweise zu einer Gegenbewegung gekommen.
Weiterlesen »