Re-alignment costs knock asset management at CS

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SWITZERLAND - Costs of CHF152m associated with the realignment of Credit Suisse Group's asset management business blighted the division's performance in the second quarter of 2006.

Asset management generated CHF27m in Q2, down 92% compared to the second quarter of 2005. The division's net revenues also declined 14% to CHF675m, compared to the previous year’s quarter, mainl...

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