Credit Suisse places US asset management arm for sale — Reuters

Credit Suisse Group AG recently launched a process that could see its US asset management arm sold, a source familiar with the matter said on Monday, as the troubled Swiss bank seeks to reshape its business after multiple scandals, according to Reuters.

Initial expressions of interest from potential buyers are due in at the end of this week, said the source, who spoke on condition of anonymity to discuss private information. The source added there was no guarantee of a sale and Credit Suisse could ultimately retain the business.