thamerpic Credit Suisse (NYSE:CS) is now seeing money flowing back into some parts of the company, CEO Ulrich Körner told CNBC in a interview with CNCC on the sidelines of the World Economic Forum in Davos, Switzerland. Overall, client fund outflows have declined significantly, he said. That’s occurring as Credit Suisse (CS) executes on its massive overhaul, which split up its investment bank into three different businesses, and slashed headcount. The plan is going well so far, he said. As it embarked on the restructuring plan, the company reached out to its investors and clients to keep them informed on the actions they’re taking and why. “That has generated very positive momentum, and I think this is momentum that travels with us through 2023,” Körner said. In the first two weeks of October, following negative press and social media coverage, client asset outflows had increased, the company said when it reported Q3 results. It will take time for company’s bottom line to benefit from the changes. In November, Credit Suisse (CS) said it expects its Q4 loss before taxes could amount to as much as ~CHF 1.5B ($1.6B). With raising $4.2B of capital through the sale of new shares, Credit Suisse’s (CS) stock price has dropped 65% in the past year. In the past month, though, it has risen 16%. SA contributor Mare Research Lab explains why it’s still neutral on CS.
