End of an era: Credit Suisse dissolves resolution unit

Three years on from the launch of a sweeping de-risking project, Credit Suisse finally shut down its strategic resolution unit, the bank’s holding pen for defunct assets, removing a persistent drag on its income in the process.

The Swiss bank’s SRU shed $31.4 billion (51%) of leverage exposure in 2018, reducing its total to $30 billion – below the bank’s end-year target of $40 billion. The unit cut $3.7 billion (11%) in the fourth quarter alone.

The SRU also reduced its risk-weighted assets

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