Outflows at Credit Suisse have partially reversed - chairman

Axel Lehmann, chairman of Swiss bank Credit Suisse, poses for a portrait at the lender's office in Singapore, August 30, 2022. REUTERS/Anshuman Daga/File Photo

ZURICH, Dec 1 (Reuters) - Client fund outflows at Credit Suisse (CSGN.S) have partially reversed and very few clients have left entirely, Chairman Axel Lehmann told a Financial Times conference on Thursday.

"It was a storm in the retail and partially in the wealth management segment, in particular in Asia, where we had really massive outflows for two to three weeks," Lehmann said.

"Since then it completely flattened out and it partially reversed," he said.

Credit Suisse has reported sharp outflows as wealthy clients move assets elsewhere, while the bank battles to recover from a string of scandals by focusing more on its flagship wealth management franchise and pruning back investment banking.

Credit Suisse, whose shares have plunged this year to record lows, is in the midst of raising 4 billion Swiss francs ($4.23 billion) to bolster its finances.

Lehmann said he did not want to speculate on scenarios including M&A and a flotation of the bank's Swiss unit, which were raised in a note published by JPMorgan analysts on Thursday.

($1 = 0.9446 Swiss francs)

Reporting by Noele Illien; Editing by Michael Shields

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