Hedge Fund News From HedgeCo.Net

Credit Suisse Lands a Heavy Blow On a Swiss Hedge Fund

(Bloomberg) Credit Suisse AG’s first-quarter results have given CEO Tidjane Thiam ammunition against activists calling for more radical surgery. Despite a fairly weak quarter for the investment bank, the CEO’s focus on wealth management while cutting costs and dumping unwanted assets is paying off. The shares rose 4 percent in response. Profitability is still below target, though. This isn’t the finish line.

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