Credit Suisse wealth cuts

City A.M. Reporter
CREDIT Suisse’s wealth management business will pull out or partially withdraw from some 50 countries by the end of the year, it emerged yesterday, after completing a review of each of its business units.

The bank has embarked on an efficiency review to look at the scale of each unit, its potential future growth and its costs.

The move, affecting countries such as Angola, Turkmenistan and Belarus, is part of efforts to save SFr150m (£103m) in the wealth management unit.