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Credit Suisse has stopped pursuing new client business in Russia -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A branch of Swiss bank Credit Suisse in Zurich, Switzerland is seen with the logo. REUTERS/Arnd Wiegmann

ZURICH (Reuters). Credit Suisse (SIX,) Russia has stopped pursuing new business after Ukraine’s invasion on February 24, said the Swiss bank in an internal document that was seen by Reuters.

Credit Suisse stated that it has worked to decrease its Russian business contacts, helping clients to limit their exposure and moving employees to different locations.

According to the company, roughly 4 percent of all assets managed by its wealth management division belonged Russian clients.

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