Credit Suisse reveals further details of restructuring plans

Credit Suisse Group has unveiled plans for around $400m-worth of investments in Switzerland in the next several years.

The news comes just days after the group announced that it would change its focus to wealth management and away from investment banking as it plans to slash costs.

The Swiss bank's chief executive Tidjane Thiam and chairman Urs Rohner told Swiss media that they hadn't given their home market sufficient attention and investment in recent years, Bloomberg reported.

In an interview with Finanz und Wirtshaft, Thiam said a partial flotation of its Swiss arm would increase awareness of the business and help fund acquisitions.

Speaking to Le Matin Dimanche, he detailed the group's plans to expand in French-speaking Switzerland and Geneva, where it will focus on acquiring struggling private banks.

"Competitiveness for a company is like breathing for a human," the chief executive said. While the next two years will be more challenging and focused on improvement, "2018 should be a good year" he added.

The restructuring plans announced earlier in the week included around 2,000 job losses in London.