Credit Suisse on Wednesday announced more than 1 billion Swiss francs ($991 million) in extra cost cuts as Chief Executive Tidjane Thiam tries to compensate for challenging conditions which have hampered his restructuring of the lender.
Just over a year since Thiam laid out his strategy for Switzerland’s second-biggest bank, analysts had expected Credit Suisse to take another axe to costs and pare back profit targets which had long been viewed as too optimistic.
