Half-in or half-out? Credit Suisse keeps IB options open

Credit Suisse has finally lifted the lid on its reorganization. But for all the frenzy of deal making it now plans, questions still remain over whether recasting the investment bank as a nostalgic partnership with a throwback name is the answer to the bank's strategic problems.

It has been a rotten year for investment banking, with primary equity and debt markets shut for long periods and M&A deal volumes down. Nevertheless, Credit Suisse has unveiled so many transactions in its long-awaited reorganization that it looked like the bank might be making a bold effort to revive the business all on its own.

On October 27, along with a widely predicted and largely ignored loss for the third quarter, it announced a SFr4 billion ($4.03

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