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Report: Credit Suisse targets CHF2B profit at wealth management unit

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Report: Credit Suisse targets CHF2B profit at wealth management unit

Credit Suisse Group AG is aiming to boost pretax profit at its international wealth management unit to CHF2 billion in 2019 from CHF1.8 billion in 2018, Bloomberg News reported, citing people familiar with the matter.

Iqbal Khan, head of international wealth management business, aims to increase collaboration with other Credit Suisse divisions and give more authority to regional segments. The profit target would mark a fourth consecutive year of growth, but is ahead of analyst expectations, the report noted.