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Credit Suisse marks another quarter of misery with huge outflows

Credit Suisse reported substantial outflows in 1Q23, with more relationship managers also leaving amid its shock rescue by rival UBS, marking another gloomy quarter for the Swiss bank. Credit Suisse’s wealth management AUM fell by CHF38 billion (US$42.6 billion) at the end of 1Q23 to CHF502.5 billion, according to the Swiss bank, mainly due to significant net asset outflows, partially…

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