As reported by Reuters, one of the largest investment banks, Credit Suisse (CSGN.CH) is considering various options to downsize its Investment Banking unit. One option is to sharply reduce its U.S. operations. There have long been rumors in the industry media about possible business cuts in the IB division and a focus on asset management and private banking.
Credit Suisse (CSGN.CH) shares ended today's session more than 5% lower. Source: xStation5