Credit Suisse is reducing its reliance on branches in its home market and instead pumping several hundred million francs into digital services. The investment is said to be in the "high three-digit million range". The bank is creating a new business area, dubbed Direct Banking, for retail and commercial clients, while its Swiss investment banking operations will become a separately managed unit. "The achievement of long-term success will not depend on having the biggest branch network in the future," Thomas Gottstein, head of Credit Suisse's Swiss Universal Bank (SUB) unit, said w...
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