Credit Suisse announced plans for a “comprehensive” review of its businesses as the troubled bank installed Ulrich Körner as chief executive and slumped to far larger second quarter loss than expected.
Körner, who heads Credit Suisse’s asset management business, will take over from Thomas Gottstein, who is stepping down after leading the bank through one of the most tumultuous periods in its 166-year history.
The strategic review, the bank’s second in less than a year, would reduce the importance of the investment bank and significantly cut costs, Credit Suisse said on Wednesday.
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