Activist investor RBR Capital Advisors, supported by Gaël de Boissard, a former Credit Suisse investment bank co-head on Tuesday confirmed it has built a position in Credit Suisse and has been talking with the Swiss bank's management. RBR Capital Advisors will reveal its plan later in the week at a conference in New York, the Financial Times reported.
According to the report, the plan will offer the argument for a three-way split of Credit Suisse into an investment bank, an asset management group and a wealth manager accommodating the Switzerland-based bank's retail and business banking operations.
Commenting on the FT report, Credit Suisse spokeswoman Karina Byrne said, "While we welcome the views of all our shareholders, our focus is on the implementation of our strategy and of our three-year plan, which is well on track and which we believe will unlock considerable value for our clients and shareholders." RBR Capital Advisors did not respond to requests for comment outsider regular business hours.
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