Despite a ‘highly challenging’ environment, the Swiss bank delivered a ‘resilient performance’ in the first quarter of 2020, said Thomas Gottstein (pictured), the new chief executive officer of Credit Suisse Group.

Credit Suisse posted pre-tax income of CHF1.2 billion (US$1.23 billion) in Q1 2020, up 13% year-on-year. The increase was driven by nine percent revenue growth across the group’s private banking franchises, and a 25% increase in its sales and trading revenues in global markets and Apac markets. Sales and trading revenues in investment banking were up 25% YoY – across both fixed income and equity. Fixed income sales and trading was up 26% from Q1 2019, mainly from higher activity in macro and

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