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Credit Suisse obtains key approval to launch wealth business in China

By Pete Sadler
Photo by Henrique Ferreira on Unsplash

Credit Suisse (CSGN.S) has received regulatory green light from China after years of waiting to launch a full-fledged wealth management business in the world’s second-biggest economy, according to a company memo reviewed by Reuters.The expansion comes after the lender suffered worse-than-expected global wealth outflows of 92.7 billion Swiss francs ($98.29 billion) in the fourth quarter.

Source: Credit Suisse obtains key approval to launch wealth business in China | Reuters

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