Credit Suisse is going to invest heavily in digitization and new staff at its Swiss branch Swiss Universal Bank. According to a statement from the group, the investment is in the hundreds of millions of Swiss francs.
In order to better serve very rich clients and institutions, the Swiss investment banking activities are also placed in a separate section. These activities now fall under the Corporate & Investment Banking division.
Credit Suisse also reported that by the end of 2021 it would create dozens of client advisory positions, focusing on asset management and institutional clients, among others. According to the group, the investments reflect the considerably increased profitability of the Swiss Universal Bank.