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New strategy for Credit Suisse says Chief Executive Tidjane Thiam


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New strategy for Credit Suisse says Chief Executive Tidjane Thiam

Higher-than expected quarterly earnings leading to a jump in share price by more than one percent to a 14 month high and a new strategy shake up.

Credit Suisse’s stock is on the up and it all comes just three weeks after new Chief Executive Tidjane Thiam took the reigns.

On Thursday he signalled the Zurich-based lender will focus on banking for the world’s wealthy and move away from riskier securities activities.

“We want to rebalance towards private banking and wealth management… as opposed to the investment bank,” he said and added that he would set out a strategy by the end of the year.

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