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Why Credit Suisse’s investment bank retreat looks more like an expansion
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Credit Suisse’s overhaul of its investment bank was expected to be a radical shift of the business. Instead, simply lops off the source of its recent woes.
Its decision to exit from prime services, which was responsible for a $5.5bn hit from the collapse of family office Archegos Capital, and a $3bn reduction in capital across its investment bank, disguises what is essentially Credit Suisse sticking to its knitting.
Credit...
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