Credit Suisse Group AG : Credit Suisse Won't Split Off, Sell Investment Bank - Rohner
07/22/2012| 10:18am US/Eastern
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ZURICH--Credit Suisse Group (CS) President Urs Rohner said the bank has no plans to split off, or sell its investment bank business, according to an interview in the Neuer Zuercher Zeitung.
Credit Suisse, which last week announced it was increasing its capital base by 15.3 billion Swiss francs, would "seek to optimize its current investment bank model," Rohner told the newspaper.
"Investment banking, even in Switzerland, is an important part of our business, and while we have tied up too much capital in the business in the past, that has been corrected," Rohner said.
Rohner said Credit Suisse may not be able to compete globally, "but this isn't necessary to be able to carry out our investment bank business successfully," he said.
"We have strengthened our focus on risk control and the returns on our capital, and that is more important in the future than the absolute size of our turnover or balance (sheet)," Rohner said.
-Zurich Bureau, Dow Jones Newswires; +41 43 443 8040; zurichdjnews@dowjones.com
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