Hopes high for Thiam turnaround at Credit Suisse

ZURICH/LONDON (Reuters) - Tidjane Thiam starts work as CEO of Credit Suisse (CSGN.VX) next month with investors optimistic he can bring about a major change of strategy at the bank, even if he has to raise cash to do it. An expectation that the 52-year-old will successfully switch Credit Suisse's focus to lucrative Asian wealth management and shrink its cash-intensive investment bank has propelled the Zurich-based lender's shares around 12 percent since Thiam's appointment was announced in March. While rival UBS (UBSG.VX) scaled back its investment bank to focus on wealth management by cutting businesses like fixed income, "Credit Suisse's position is very different," Vontobel analyst Andreas Venditti pointed out.

Hopes high for Thiam turnaround at Credit Suisse source: http://finance.yahoo.com/news/hopes-high-thiam-turnaround-credit-133816073.html