Credit Suisse's new CEO said to be planning substantial capital raising
Credit Suisse’s new chief executive Tidjane Thiam is said to be planning a substantial capital raising when he reveals his strategic plan for the bank in two weeks, the Financial Times reported on Thursday.
Under the former Prudential chief's plans for the bank, the capital is expected to be used to support the costs of fast restructuring, according to the paper's sources.
The sources did not specify an amount but said a Goldman Sachs poll last week showed that 91% of investors see the bank raising more than 5bn Swiss Francs.
Thiam, who took over in the summer, is due to unveil his strategy on 21 October which is expected to include plans to focus on private banking and Asian markets rather than volatile investment banking operations.