A Swiss hedge fund is poised to launch an activist campaign to break up Credit Suisse, tapping into investor impatience with the progress of the bank’s turnround under chief executive Tidjane Thiam.
RBR Capital Advisors, supported by Gal de Boissard, a former Credit Suisse investment bank co-head, is set to unveil the plan later this week at the JPMorgan Robin Hood investor conference in New York, according to people briefed on it.
Run by Rudolf Bohli, former analyst and trader, RBR has had success with activist campaigns against GAM, the asset manager, and Gategroup, the airline catering company now owned by Chinas HNA. RBR is based in the town of Ksnacht near Zurich.
According to people briefed on Mr Bohli’s plan, he will argue for a three-way split of Credit Suisse into a Wall Street investment bank that revives the old First Boston brand; an asset manager; and a wealth management group that also encompasses Credit Suisses retail and business banking operations.
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