Credit Suisse (CS +2.3%) says it plans to split its EMEA private-banking business into 2 units -...

|About: Credit Suisse Group AG (CS)|By:, SA News Editor

Credit Suisse (CS +2.3%) says it plans to split its EMEA private-banking business into 2 units - one focused on Western Europe, the other on emerging markets - as part of an ongoing restructuring effort. Like many of its rivals, Credit Suisse's unit has been hit hard by weak macro conditions, financial markets turmoil, and a crackdown on offshore tax havens.