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The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. Reuters reported on Thursday that Credit Suisse had sounded out investors about a possible capital raising as it attempts a radical overhaul of its investment bank. "When we launched our strategic review, we committed to an ambitious timeline whilst also making it clear that we would carry out a rigorous and diligent evaluation of all options for Credit Suisse," the note said. A Credit Suisse spokesperson confirmed the contents of the memo. A bank spokesman said "Credit Suisse is not exiting the U.S.

☆ Credit Suisse considers splitting investment bank in three - FT
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. REUTERS/Arnd Wiegmann/File PhotoSept 22 (Reuters) - Credit Suisse Group AG (CSGN.S) has drawn up plans to split its investment bank in three, the Financial Times reported on Thursday, as the Swiss lender attempts to emerge from three years of relentless scandals. "We have said we will update on progress on our comprehensive strategy review when we announce our third-quarter earnings," the newspaper report quoted Credit Suisse as saying. Reuters reported earlier this month that Credit Suisse, Switzerland's second-biggest bank, was also looking to cut around 5,000 jobs, about one position in 10, as part of a cost-reduction drive. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Juby Babu in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ EXCLUSIVE Credit Suisse sounds out investors about capital hike - sources
▼ + stars: | 2022-09-22 | by ( Oliver Hirt | ) www.reuters.com time to read: +4 min

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. Various scenarios are under discussion for the investment bank, including the most drastic option of largely exiting the U.S. market, two sources said. A Credit Suisse (CSGN.S) spokesperson said: "We have said we will update on progress on our comprehensive strategy review when we announce our third-quarter earnings. There is significant interest in this business, sources said, including from financial investors, other banks and insurers. Credit Suisse is also considering cutting around 5,000 jobs, about one position in 10, as part of the cost reduction drive.

☆ Chinese millionaires to double by 2026, Credit Suisse says, despite slowing economy
▼ + stars: | 2022-09-20 | by ( Selena Li | ) www.reuters.com time to read: +2 min

REUTERS/Arnd WiegmannHONG KONG, Sept 20 (Reuters) - The number of Chinese millionaires is expected to double by 2026, according to a report by Credit Suisse (CSGN.S) issued on Tuesday, despite Beijing's national drive to ease wealth inequality and a sharply slowing economy. Total household wealth in China reached $85.1 trillion in 2021, up 15.1% or $11.2 trillion from 2020. That number in China is expected to double to 12.2 million in five years time, the report said. The bullish China wealth growth outlook comes even as the world's second-largest economy narrowly avoided contracting in the second quarter as widespread COVID-19 lockdowns and the slumping property sector hit consumer and business confidence. However, the Swiss private bank remains upbeat about five-year growth outlook, with global household wealth expected to increase by $169 trillion by 2026.

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