Credit Suisse eyes expansion through acquisitions, reports say

New Credit Suisse boss Tidjane Thiam has sounded out investors about plans to expand its asset management operations, according to reports.

Citing sources, the Financial Times reported the Swiss bank was eyeing up potential takeovers in asset management, an area less capital intensive than investment banking.

Credit Suisse chief executive Thiam, who was poached from insurance company Prudential in March, has met with the bank's top 20 investors in recent weeks and signalled acquisitions are a possibility, sources indicated.

Most analysts expected Thiam, who took the top job in July, to gut underperforming units and expand private banking operation, with a focus on the Asian market where Prudential lately made hay.