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Friday April 15, 10:06
Credit Suisse creates integrated bank organization
(by Olivia Cohen)
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Credit Suisse Group took a step towards cresting an integrated bank organization by announcing the merger of its two Swiss banking units, Credit Suisse and Credit Suisse First Boston.
The merger, scheduled for May 13, will create a bank called Credit Suisse that still will be using its separate three brand names, Credit Suisse, Credit Suisse First Boston and Credit Suisse Asset Management.
The bank is expected to start functioning on May 16, some bank insiders said. The two banks’ existing offices and branches will be taken over by the new bank.
Other terms will be disclosed after the approval, the group said.
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