Credit Suisse to fence off domestic services

by Matthew Allen in Zurich, swissinfo.ch November 21, 2013 – 14:23 Swiss bank Credit Suisse (NYSE:CS) has announced plans to alter its legal structure, making it easier to break up the bank in the event of a major crisis. The approval of the Swiss regulator is still needed, but changes could start from mid-2015. The bank plans to set up a new legal structure to house its Swiss-based wealth management assets and domestic services to retail and local business customers as well as institutional clients, such as pension funds. The measures are aimed at isolating and protecting services vital to the Swiss…