Credit Suisse said its Wealth Management clients contributed net new assets of $4.4 billion in the fourth quarter, even as its investment banking business took a steep plunge that led to a loss for the company as a whole.
The Wealth Management business, though, had mixed results. The business recorded income before taxes of $311 million in the fourth quarter. That was down from $664 million in the prior year, but a swing from the third quarter, when it reported a loss after litigation expenses of $523 million.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access