postpones

Credit Suisse postpones 10%-12% return on tangible equity ambition

Adds further detail from statement, background

ZURICH, Dec 15 (Reuters)Credit Suisse CSGN.Son Tuesday reiterated its key financial ambition for a 10%-12% return on tangible equityin the medium term but avoided re-committing to the 10% goal previously set for this year.

Switzerland’s second-biggest bank also laid out plans to boost growth in wealth management, aiming to grow wealth-related pre-tax profit to 5.0 – 5.5 billion Swiss francs ($5.64- $6.20 billion) by 2023 or approximately 10% annually, as well as investment banking.

It said it expected to turn around its asset management business in 2021 by focusing more on alternative and private market offerings, and those related to sustainable investing.

“Today, we are outlining … broad-based investment initiatives to accelerate growth in our Wealth Management-related businesses and our Investment Bank,” Thomas Gottstein said in remarks prepared for his first investor outlook presentation as

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Affirm postpones its initial public offering

Affirm Holdings Inc. is postponing its initial public offering, the second company in as many days to pull back from the red-hot IPO market, the Wall Street Journal reports.

The point-of-sale lender, which had been set to begin marketing its shares to investors this coming week ahead of a December listing, now won’t go public until January at the earliest.

While the reasons aren’t entirely clear, people familiar with the matter cited the extreme first-day pops this past week in the shares of DoorDash Inc. and Airbnb Inc. and delays at the Securities and Exchange Commission amid a flood of listing requests.

The move comes just a day after The Wall Street Journal reported that videogame company Roblox Corp., which was on a similar IPO timetable, put its listing on pause until early next year.

Both Roblox and Affirm will consider selling a larger portion of their shares and changing

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