Credit Suisse Sees $1.6 Billion Fourth Quarter Loss - Bloomberg

Cash Exodus Loss expected in wealth division and investment bank Continues to see outflows of customer assets in fourth quarter By Marion Halftermeyer Credit Suisse Group AG warned it will book a loss of up to 1.5 billion Swiss francs ($1.6 billion) for the fourth quarter, and reported further outflows of wealth management funds amid a slump in client confidence. The Zurich-based bank said in a statement Wednesday it expects losses in both the wealth management division and its investment banking unit due to subdued activity, market conditions, continued outflows of customer assets and the sale of