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Credit Suisse: new strategy aims to halt downward momentum

Memory of scandals in the investment bank will deter some prospective clients of wealth management

Like slalom skiers, Credit Suisse executives frequently find themselves careering downhill dodging obstacles. A series of ill-judged turns — the Greensill and Archegos scandals — have forced the bank to change direction

Credit Suisse is shutting its struggling prime brokerage unit, responsible for huge losses earlier this year. It is shifting capital into wealth management, an increasingly crowded t