Credit Suisse Results Presentation Deck
Significant progress on cost transformation already achieved
in 4Q22
11
Group cost base targets
in CHF bn
~17.0
Excluding impact of SP transaction and other divestments
~16.5-17.0
III
H
2022
guidance
at 4Q21
2022
guidance
at 2Q22
Full-time employees
in '000s
including notified
reductions in workforce¹
16.2
FY22¹
50
49
~ (1.2)
↓
15.8
2023
target
~ (2.5)
~14.5
2025
target
43
Decisive actions executed in 4Q22
➤ Achieved reduction in number of employees of ~4% in 4Q22²
➤ Reduced contractor headcount by ~30%
➤ Reduced consultant headcount by ~20%
➤ Reshaped Investment Bank delivered a ~13% headcount reduction
2023 priorities
Maintain strong expense discipline and deliver CHF ~1.2 bn cost base reduction,
of which actions already initiated represent ~80% of 2023 target
Step change reduction in third-party costs including professional services, legal
services, and real estate footprint
> Exit non-core businesses and continue descoping to improve efficiency and
reduce costs
> Simplify organizational design and structure to achieve headcount saves and
reduced complexity
➤ Operational efficiency measures including improved front to back processes and
corporate functions aligned to new Credit Suisse footprint
Note: Results excluding certain items in our reported results are non-GAAP financial measures. See the appendix of this presentation for detailed information and defined terms as well as important
presentation and other information relating to non-GAAP financial measures, including reconciliations. 1 Adjusted operating expenses FY22 2 FTE reduction includes notified reductions in workforce
who were on the payroll as of end of 3022 and 4022
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