The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021.
Arnd Wiegmann | Reuters
Credit Suisse’s restructuring plans include the sale of part of the bank’s securitized products group (SPG) to U.S. investment houses PIMCO and Apollo Global Management, as well as a downsizing of its struggling investment bank through a spin-off of the capital markets and advisory unit, which will be rebranded as CS First Boston.
Credit Suisse shares have gained almost 17% since the turn of the year.
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Source: https://www.cnbc.com/2023/02/09/credit-suisse-posts-massive-annual-loss-as-radical-restructure-gets-underway.html