Profile: Credit Suisse's de Boissard on capital efficiency, Basel III and bank strategy
Credit Suisse is trying to halve risk-weighted assets for its fixed-income division. That has been painful work – businesses and clients have been cut – but Gaël de Boissard says the bank is now closer to having a Basel III-compliant franchise than its rivals. By Duncan Wood
When rival dealers spoke about Credit Suisse towards the end of last year, they did so with an awkward mix of pity and delight: the bank’s third-quarter earnings, released on November 1, showed the investment banking division had lost Sfr190 million ($199 million), and included a pledge to halve risk-weighted assets (RWAs) for the fixed-income business – the number from which capital is calculated
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