Credit Suisse is bringing its disparate markets and investment banking operations into one division, it announced on Thursday, as new chief executive Thomas Gottstein draws out a fresh structure for the bank. The bank is aiming to create savings to be invested elsewhere, but did not give much detail about where cuts would be made.

From August 1, Credit Suisse will have a global investment bank incorporating investment banking and capital markets (IBCM) and global markets, which have been housed in separate divisions, and the markets operations of its Asia Pacific division.