, according to several media reports – a move long deemed unthinkable as the pair are so similar.
Rivals Credit Suisse, headquartered no more than 300 metres away in central Zurich, meanwhile suffered a loss of 7.3 billion Swiss francs .Both banks derive most of their revenue from wealth management and investment banking. In October, Credit Suisse began a major restructuring project that plans to separate its investment banking from the rest of its activities after a series of scandals.
In a note Thursday, analysts at US financial services giant JPMorgan thought this arm of Credit Suisse would probably have to be spun off or listed separately on the stock exchange in the event of a merger.PILLARS OF SWISS BANKING
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