Credit Suisse Group AG, Switzerland’s second-biggest bank, is working to boost profitability of its wealth-management businesses in the U.S. and western Europe, Chief Executive Officer Brady Dougan said.
Credit Suisse Group AG’s job cuts have created a “sustainable business model” and future cost savings will be sought in “our shared services and platform- type costs,” Chief Executive Officer Brady Dougan said.
Credit Suisse Group AG Chief Executive Officer Brady Dougan said the bank’s recent cost- cutting and reorganization will allow it to achieve its target of 15 percent return on equity over the business cycle.
Credit Suisse Group AG Chief Executive Officer Brady Dougan, caught off guard last week when the Swiss central bank said he must raise capital faster, faces mounting public criticism and dissent from employees.
Capital One Financial Corp., the worst performer this year in the KBW Bank Index, agreed to pay $3.5 million to resolve U.S. regulatory claims the bank set aside inadequate reserves for auto loan losses in 2007.