Jeffrey Vögeli

Tidjane Thiam received less pay than his target after the chief executive officer volunteered for a 40% bonus cut as a gesture to beleaguered traders.

The firm's CEO said performance at the wealth management and investment banking units has failed to recover in the first quarter with “challenging conditions” continuing into this year.

A multi-year plan coincided with third-quarter results that missed analyst estimates, partly because of a bigger-than- expected drop in managing clients' money, the business the company wants to expand.

CEO Tidjane Thiam said he plans to allocate more resources to wealth management and strengthen the bank's position in Asia, while scaling back the investment bank, mirroring an approach of UBS.

CEO Tidjane Thiam is under pressure to make deeper cuts to its investment bank and allocate more resources to wealth management. Thiam told staff in a memo on his first day on the job in July that he would be "ruthlessly selective" about where the bank allocates its resources.

The rapid rate of wealth creation by billionaire entrepreneurs will probably level off over the next two decades as economic growth slows in emerging markets and governments act against income inequality, a UBS study found.

Switzerland's second biggest bank beat analysts' estimates, posting a pre-tax profit of 636 million francs, about $666 million, in the first quarter.

Sources say the review of the firm's Australian wealth management business may lead to a sale.

The firm named Prudential's Tidjane Thiam to replace Brady Dougan as chief executive officer as the bank grapples with declining profitability at the securities unit and weakened capital.

Facing the threat of competition from Google and Amazon.com, UBS has turned to a company that uses artificial intelligence for help delivering personalized advice to the bank's wealthy clients.

Despite a decrease in profit in its wealth management division, Credit Suisse Group, Switzerland’s second-biggest bank, reported third-quarter profit that beat analysts' estimates as revenue from trading fixed- income products soared.

Credit Suisse Group AG said it will abandon commodities trading as a $2.6 billion fine to settle a U.S. tax investigation pushed the Swiss bank to its biggest quarterly loss since 2008.

Credit Suisse Group AG is poised to report its biggest quarterly loss since the collapse of Lehman Brothers Holdings Inc. after being fined $2.6 billion for helping American clients evade taxes.

UBS AG is a better bet than its Zurich neighbor Credit Suisse Group AG even though it’s more exposed to legal risks, according to JPMorgan Chase & Co. analysts.

Credit Suisse Group's top officials told investors that Switzerland's second-biggest bank is pushing to resolve the U.S. probe into whether it helped American clients evade taxes.

UBS AG, Switzerland’s largest bank, said it plans a special payout for investors on top of higher dividends after it reaches capital targets this year. The shares rose.

Credit Suisse Group, Switzerland's second-biggest bank, said losses in the fourth quarter were larger than previously reported after it booked more charges for a probe into tax evasion by U.S. clients.