UBS talks about ‘Massive Downsizing’ for Credit Suisse’s IB
Seems like all options are on the table and management even considering a spin-off
The media is talking about 10% of CS has left. Can anyone confirm through the grapevine?
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Considering a spin-off for the domestic business not CS as a whole—they’ve always talked about downsizing this isn’t something new
Source?
always been discussed as a potential option from Day 1. As mentioned above, Domestic Swiss CS could stay as a standalone retail bank and UBS will absorb PWM, AM and IB. Most of the cuts are probably coming out of PWM/AM/IB for the time being until they decide what they want to do with the domestic CS retail bank in Switzerland.
That 10% figure is hella conservative lmao
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