Page 3 - Lulu Yilun Chen News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) The $54 billion lifeline won by Credit Suisse Group AG on Thursday gives it a fighting chance to rebuild its business. Some clients aren’t waiting around to find out how that goes. In Asia, several ultra-wealthy clients continued to cut back their exposure amid the tumult this week. In the Middle East, some customers asked the bank to convert cash deposits into treasury bills and bonds. An executive at a rival European bank said they’re seeing some deposits shifting from Credit Suisse, although the amount isn’t yet sizable. Such attrition, if widespread, will make the overhaul that Chief Executive Officer Ulrich Koerner and his team are overseeing that much harder. Stemming the months-long exit of clients is critical to righting the battered Swiss bank, which saw net outflows hit 110.5 billion francs ($119 billion) in the fourth quarter. “We want to get back all what we lost,” Koerner said at an investor conference on Tuesday. “And once we are there, we go bey

United statesFrance generalHong kongMyriam balezouUlrich koernerLulu yilun chenCathy chanDinesh nairKian abouhosseinAndre helfensteinKrystal chiaDavid ramliClaudia maedlerHarry wilsonAlison williamsCredit suisse group