Credit Suisse closes US unit

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Source: Marketwatch
© Scanpix/Reuters

Credit Suisse Group announced it plans to close its US unit, Credit Suisse Private Advisors, as part of strategy aimed at increasing profitability of private banking sector. The US unit will be merged with Credit Suisse's private banking unit in US. The shift will allow the company to streamline its operations and increase efficiency, said Alex Biscaro, Credit Suisse spokesman.

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Thu, 24 Nov 2011 11:04:05 GMT

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