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Credit Suisse mulls creation of a single private bank

The plan may be part of an overhaul following the fallout from two scandals this year

Credit Suisse took a $5bn hit when former hedge fund manager Bill Hwang's firm Archegos imploded in March - the biggest of any investment bank exposed to the fund
Credit Suisse took a $5bn hit when former hedge fund manager Bill Hwang's firm Archegos imploded in March - the biggest of any investment bank exposed to the fund Photo: Bloomberg via Getty Images

Credit Suisse is mulling creating a single private bank, which would see a change in the current regional structure and centralise the management of it into one division, according to a report from Reuters.

Citing anonymous sources, the report published on 30 June said that the Swiss bank was considering these plans as part of an overhaul following the fallout from two scandals this year.

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