2021 Investor Day
We expect adjusted operating expenses to be between
CHF 16.5-17.0 bn in 2022 to 2024
Illustrative development of adjusted operating expenses excl. significant items¹
in CHF bn, FXC
~16.2-16.5
~(0.4)
~0.5
Yr3
Yr3
1.5
Amortization of
16.5-17.0
investments in
~40%
Yr2
infrastructure to
support growth
Yr1
Yr2
Yr1
~60%
Increasing to
~(1.0)-(1.5)
by 2024
Increasing to
~1.0-1.5
by 2024
Operating cost
increases as
part of the
growth plan
(e.g. RM hires)
2021
Estimate²
Business
exits
Variable
compensation
normalization
Structural
cost savings
Invest
for growth
We expect adjusted operating expenses to be between CHF 16.5-17.0 bn in 2022 to 2024¹;
In addition, we expected CHF ~400 mn of restructuring expenses between 4Q21 and 2022
1 At constant 2021 FX rates
2022-2024
Aspiration
2 Estimates and assumptions are based on currently available information and beliefs, expectations and opinions of management and include all known facts and decisions as of November 4, 2021. Actual results may differ
CREDIT SUISSE
2021 Investor Day
November 4, 2021
46View entire presentation