ZURICH Nov 20 Credit Suisse's
organisational revamp is not a precursor to splitting up the
Swiss bank, Chief Executive Brady Dougan said in a newspaper
"We're not going to split up Credit Suisse," Dougan said in
an interview with Swiss business publication Finanz und
Wirtschaft set to appear on Wednesday.
Earlier on Tuesday, Credit Suisse reinforced its commitment
to its fixed income business, all but abandoned by Swiss rival
UBS, by promoting debt banker Gael de Boissard to run
fixed income and head up Europe.
Dougan also denied that a decision to put Credit Suisse's
private banking arm in control of the bank's smaller asset
management unit and to absorb some investment bank activities
was related to a long-running tax probe by the United States.
"The new organisation has nothing to do with the U.S. tax
dispute. This is a purely organisational change," Dougan was
quoted as saying.
Dougan did not elaborate in the interview on the status of
negotiations with the U.S. over the tax issue.