Credit Suisse Consolidates Investment Banking

Credit Suisse Group AG ’s new chief executive unveiled a plan to combine most of the Swiss lender’s trading and investment-banking businesses. According to a story in The Wall Street Journal, Thomas Gottstein said the move is aimed at freeing up cash to invest across Credit Suisse’s businesses but it doesn’t mark a fundamental shift in the bank’s ambitions. The new investment-banking arm will comprise the divisions previously known as investment banking and capital markets, global markets, and the Asia-Pacific markets business, which had operated separately before.