ZURICH, Jan 18 (Reuters) – Credit Suisse (CSGN.S) is seeing a reversal of outflows, CEO Ulrich Koerner said in an interview with CNBC in Davos on Wednesday.
“Outflows have reduced very significantly and we are seeing money now coming back in different parts of the firm,” he said.
Koerner said he has “zero concerns” about conflicts of interest surrounding the bank’s acquisition of former Credit Suisse board member Michael Klein’s advisory firm.
Earlier this month it was reported the Swiss bank would value M. Klein & Company at a few hundred million dollars.
The potential deal is expected to allow M. Klein & Co. shareholders to take an eventual stake in CS First Boston using proceeds from the sale.
“We can deal with a situation like that in the utmost professional way,” Koerner said.
“I am really looking forward for Michael to join because Michael is an excellent banker, an excellent dealmaker and he is very entrepreneurial and that is why I want to go together with him on a journey.”
Reporting by Noele Illien; editing by Louise Heavens and Jason Neely
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