Amid restructuring, Credit Suisse keeps faith in Asia-Pacific

Singapore

CREDIT Suisse's Asia-Pacific division proved once again to be the outperformer of the bank as it reported full-year results on Thursday, though it was not spared from a hefty writedown at the group level that reflected the massive restructuring that the Swiss bank is undertaking.

But the bank remains on track to grow its pool of bankers in this region, and has continued to hire not just relationship managers, but traders who have been fired by other global banks that are exiting or trimming their Asian equities and bonds business, a top executive told reporters on Thursday. This diverges from the dour outlook at the group level, as 4,000 jobs are set to be cut overall.