Credit Suisse likely to make small cuts investment bank in Asia Pacific
The head of Asia-Pac at Credit Suisse has confirmed that any potential downsizing to its investment bank in Asia was likely to be small, despite rumours that the bank would scale back that division globally. Analysts have been making demands for a downsizing of Credit Suisse's investment bank, and international media reported that pressure to cut back on that division of the bank mounted on former chief executive Brady Dougan in his final months on the job. However, Helman Sitohang, Asia-Pacific chief executive, said Credit Suisse was in a much different position from many of its global peers, one that would not force an escape from investment banking for refuge in private banking and wealth management.
A construction worker beneath the logo of Credit Suisse bank which said any downsizing to its investment bank in Asia was likely to be small. Photo: Reuters