Credit Suisse has published historical financial information after the division of Asset Management and International Asset Management. With this, the bank wants to reflect the updated structures of the division and reporting.
Wednesday’s announcement follows the decision announced by Credit Suisse in March to change the structure of its International Wealth Management (IWM) division. This change led to the outsourcing of Asset Management (AM) as an independent division under the direction of Ulrich Koerner.
Based on Credit Suisse’s results for the second quarter and first half of 2021, which will be published on July 29, 2021, Credit Suisse divides its financial reports into five reporting divisions – Swiss Universal Bank, International Wealth Management, Asia Pacific, Asset Management and Investment Bank as well as a Center companies. Central corporate functions for each of the five business areas will continue to be supported.
The revised historical financial information provides comparable data for the most recent reporting periods, reflecting historical performance, number of employees and assets under management according to the updated divisional structure. This change has no impact on the KPIs in the consolidated results of Credit Suisse at the group level.
According to the announcement, the data is available for the entirety of 2017 and 2018, as well as for all quarters of the previous and first quarters of the current year and can be accessed on the bank’s website.