Credit Suisse business model endorsed by SNB 

Bloomberg

Swiss National Bank (SNB) President Thomas Jordan has voiced support for Credit Suisse Group AG doing less investment banking, as the lender struggles to recover from billions in losses over the past two years, recent client defections and asset outflows with a strategy revamp.
“We appreciate that Credit Suisse is focusing on its strengths,” Jordan told Swiss radio SRF. “That means wealth and asset management and being a universal bank for Switzerland, while doing less investment banking than in the past. This should lead to risks in Credit Suisse’s business diminishing, which is good from a financial stability point of view.”
The central bank usually doesn’t comment on individual commercial banks but has left this stance recently with regard to Credit Suisse.
Credit Suisse is undertaking a sweeping overhaul of its business following years of scandals and management missteps. The new strategy includes plans to spin off its capital markets, advisory and leveraged finance businesses into a boutique unit under the CS First Boston branding, while
integrating its remaining trading businesses more closely with the wealth management business.