Credit Suisse’s Asian investment banking operations could move into the bank’s global securities and advisory business, according to a Bloomberg report (behind a paywall), citing people familiar with the matter.

If this is indeed Antonio Horta-Osorio’s thinking, it would show an eagerness to reign in powers and unwind the bank’s previous strategy, which fostered regional autonomy over centralization. The 57-year-old Portuguese-British banker pledged results from a strategy review by year-end.

Support is Paramount

Until now the Credit Suisse's strategy has been to be a «leading wealth manager with strong global investment banking capabilities,» as reaffirmed by the bank in June last year.

To bring about any change to this he will need the support of his supervisory board. The election of his proposed candidates Axel Lehmann and Juan Colombas to the supervisory board next Friday represents a first step in Horta-Osorio laying the groundwork for a potential change in direction.