Global - Credit Suisse's asset management arm has increased its asset under management (AUM) to CHF 708.6 bn, up 5.8 % since December 31, 2006.
The Credit Suisse group as a whole boosted profits by 5%, with net income climbing to CHF 2.73 billion.
Oswald Grubel, CEO of Credit Suisse, attributed the firm’s integrated business model for the rise in profits.
He said: “We have achieved a great deal over recent years and I am convinced that under the leadership of Brady Dougan, the new CEO, Credit Suisse will continue to grow and strengthen its profitability.”
The bank recently targeted the European pensions market with a fiduciary offering and two new LDI products.
Meanwhile, in the UK, the firm has been actively recruiting in its pensions solution groups, with one source predicting several more high profile announcements to be made over the next two months.
Terry O’Malley, director and head of UK institutional distribution for asset management at Credit Suisse, recently joined from investment consultants bfinance.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers