March 2, 2017 / 7:03 AM / 3 years ago

Credit Suisse to transfer Swiss asset management business to new entity

The logo of Swiss bank Credit Suisse is seen on an office building in Zurich, Switzerland, December 23, 2016. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Credit Swiss (CSGN.S) will transfer its Swiss asset management business to a new entity due to begin operations under its own license at the end of March, the bank said on Thursday.

“This step will support the delivery of the bank’s strategic objectives,” Credit Suisse said. “It will allow the Switzerland-based Asset Management businesses to exploit their full growth potential both in Switzerland and globally.”

Reporting by John Miller; Editing by Michael Shields

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