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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

(CSGN)
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Credit Suisse : weighs changes at Asia investment banking unit - Bloomberg News

09/21/2021 | 10:37am EDT
FILE PHOTO: A Credit Suisse sign is seen on the exterior of their Americas headquarters in the Manhattan borough of New York City

(Reuters) - Credit Suisse Group AG is looking to move its Asian investment banking operations into its global securities and advisory business, Bloomberg News reported on Tuesday https://www.bloomberg.com/news/articles/2021-09-21/credit-suisse-weighs-asia-investment-bank-changes-in-overhaul, citing people familiar with the matter.

The potential consolidation is part of a wider overhaul put into motion by Chairman Antonio Horta-Osorio in an effort to turn around the Swiss bank, which has been facing issues on multiple fronts since the fallout from the Archegos collapse.

The latest plan would mirror the bank's move from last year, when it shifted Asian market activities into the global securities and advisory unit, the report added.

A final decision on the matter has not been made yet, the report said, adding that the bank's board is set to meet next week to discuss its strategic review.

McKinsey & Co is advising the board on the move, Bloomberg News reported.

(Reporting by Sohini Podder in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2021
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Analyst Recommendations on CREDIT SUISSE GROUP AG
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Financials
Sales 2021 22 477 M 24 320 M 24 320 M
Net income 2021 551 M 596 M 596 M
Net Debt 2021 - - -
P/E ratio 2021 44,7x
Yield 2021 1,70%
Capitalization 23 597 M 25 596 M 25 532 M
Capi. / Sales 2021 1,05x
Capi. / Sales 2022 1,08x
Nbr of Employees 49 240
Free-Float 90,9%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 9,79 CHF
Average target price 10,93 CHF
Spread / Average Target 11,7%
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Managers and Directors
Thomas Gottstein Chief Executive Officer
David Richard Mathers Chief Financial Officer
António Mota De Sousa Horta-Osorio Chairman
James Walker Chief Operating Officer
Thomas Grotzer Global Head-Compliance
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