Bloomberg Law
Aug. 23, 2022, 12:58 PM

Credit Suisse Is Chasing a Broader Set of the Global Wealthy (1)

Myriam Balezou
Myriam Balezou
Bloomberg News

Credit Suisse Group AG is shifting resources in the pursuit of business from a broader range of rich clients, as the lender focuses more on wealth management amid cuts to its troubled investment bank.

The Zurich-based bank is reassigning advisers to its Private Banking International unit, led by Raffael Gasser, according to a memo sent to staff Tuesday and seen by Bloomberg. The aim is to expand coverage of global high-net-worth clients in addition to the ultra-wealthy segment, the bank said.

As many as a third of the relationship managers with client assets booked in Switzerland that don’t currently sit ...