Credit Suisse to divide wealth-management unit

–Credit Suisse will divide its main wealth-management unit into seven divisions from the current four in a push to regionalize the bank, Bloomberg reports, citing unnamed sources.

–The seven regions–Latin America, Brazil, Western Europe, Southern Europe, the Middle East, Africa, and Central and Eastern Europe–will have their own management and will be given more autonomy.

–The plan, called "Project Momentum," could be announced as early as this week.

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