Credit Suisse has unveiled plans to invest in digitisation, hiring, and marketing over the next three years in its home market.
The investment is said to be in the “high three-digit million range”.
Go deeper with GlobalData
As part of the plan, the bank will launch a new business area next month.
Dubbed Direct Banking, the new business will tend to nearly one million retail and 60,000 commercial clients using core banking offerings.
The business will focus on digital solutions, while also offering personal advice.
With a staff strength of over 500, Direct Banking will be led by Mario Crameri.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFormerly, Crameri was in charge of the IT & Operations arm of Credit Suisse’s Swiss Universal Bank (SUB) unit.
Crameri will now join the executive board of Credit Suisse (Switzerland) and of SUB.
Meanwhile, IT & Operations will now be under separate leadership. IT will be managed by Kirsten Renner, while Operations will be overseen by Daniel Eggenschwiler.
Credit Suisse SUB CEO Thomas Gottstein said: “The new business area is our response to the significant changes in the market environment in recent years.
“Maintaining the status quo was not an option – not least because we believe that the achievement of long-term success will not depend on having the biggest branch network in the future. Instead, having the best digital offering – combined with access to advice from any location and the best service quality – will be the deciding factor.”
At the same time, Credit Suisse will manage its Swiss investment banking division as a separate business area. At present, the unit is part of Corporate & Investment Banking.
The business will remain under the leadership of Jens Haas, who will sit on the executive board of Credit Suisse (Switzerland) and of SUB.
Besides, plans are on to create a “high double-digit number” of client advisory roles by 2021.
The bank noted that the priority will be on expanding teams in areas having a “strong advisory focus”.
