Deals
Cash Crunch Eases for Credit Suisse CEO Thiam
- CEO Tidjane Thiam outlines progress bank made in last year
- Considering options beyond Swiss bank listing to raise capital
Credit Suisse CEO Sees Brexit and Capital Options
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Credit Suisse Group AG said its capital buffers are strong enough to consider alternatives to an initial public offering of the Swiss bank unit, signaling it may be open to selling stock to retain full ownership of its most-profitable business.
Advances that Switzerland’s second-largest lender has made over the past year include $1.9 billion of cost cuts, a higher capital ratio and a settlement with the U.S. Justice Department over its sales of toxic mortgage debt, CEO Tidjane Thiam said in an interview with Bloomberg Television on Tuesday. That progress is allowing the bank to weigh a range of options, he said.