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Credit Suisse CEO says 4% of bank’s wealth management assets held by Russians -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Thomas Gottstein, Chief Executive Officer, Credit Suisse speaks at the fourth annual Future Investment Initiative held in Riyadh Saudi Arabia on January 27, 2021. REUTERS/Ahmed Yosri

ZURICH (Reuters), Approximately 4% Credit Suisse (SIX:), Wealth Management Manages belong to Russian Clients, Chief Executive Thomas Gottstein stated on Tuesday.

Gottstein claimed that about 4% are managed by Russian clients in wealth management, either Russian-domiciled residents or Russian citizens who reside in the West. Morgan Stanley Conference in London (NYSE:).

Credit Suisse revealed last week that Russia had a gross credit exposure in excess of 1.569 Billion Swiss Francs ($1.69Billion) at the end of 2021. Gottstein claimed this was “reduced materially” by the end February.

The Russian client list was not yet detailed by the bank.

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