Credit Suisse: Thiam's tweak
瑞士银行：谭天忠的微调
Another change of plan at Switzerland's second biggest bank.
瑞士第二大银行做出了另一改变。
Europe's most troubled big banks may at last be on the road to recovery.
在欧洲，麻烦最大的几家银行也许至少处在恢复的道路上。
Not only is economic growth perking up; uncomfortable decisions, put off too long, are also being taken.
不仅经济增速振作起来，而且那些令人不快而推迟太久的决定也拍板了。
In recent months, UniCredit, Italy's largest lender, has written down bad debt by 8.1bn euro ($8.7bn) and tapped shareholders for 13bn euro.
在最近的几个月里，意大利最大的放贷方——裕信集团已经减记坏账八十一亿欧元(约八十七亿美元)并从股东筹资一百三十亿欧元。
Deutsche Bank, Germany's biggest, has raised 8bn euro in equity and decided to keep a retail business it had hoped to sell.
德国最大银行——德意志银行已经股权融资八十亿欧元，并决定按照预期继续保持零售业务的销售。
On April 27th it reported first-quarter net income of 575m euro, up from 236m euro a year earlier, although revenue fell.
4月27日，德银报告第一季度营业收入有所下降，但净收益从上年度两亿三千六百万欧元增加到五亿七千五百万欧元。
Like Deutsche, Credit Suisse is freer to make plans after a recent settlement with American authorities over mis-selling mortgage-backed securities before the financial crisis.
与德意志类似，瑞信在近期与美国机构就之前金融危机中误售按揭证券的问题达成一致后，在制定计划方面更加自由了。
On April 26th Switzerland's second-biggest bank reported first-quarter net income of SFr596m ($594m), far better than forecast, reversing a SFr302m loss a year before.
4月26日，这家瑞士第二大银行报告称第一季度净收入五亿九千六百万瑞郎(约五亿九千四百万美元)，远远高于预期，扭转了去年损失三亿零两百万的局面。
Along with most of Wall Street, which published earnings earlier in the month, and Deutsche it benefited from a good quarter for fixed-income trading.
华尔街大多数机构这个月初宣布盈利，与它们和德银一样，瑞信得益于第一季度的固定收益交易经营良好。
It expects to wind up a unit in which it has dumped unwanted assets by the end of 2018, a year ahead of schedule.
它期望在2018年底解散一个部门，瑞信已经从中抛售了一些多余资产，这比计划安排要提前一年。
Credit Suisse's chief executive, Tidjane Thiam, has also ditched a plan to float 20-30% of the group's Swiss universal bank—part of a scheme, conceived in 2015, to raise SFr9bn-11bn of capital.
瑞士信贷总裁谭天忠(Tidjane Thiam)也已经放弃了为集团旗下瑞士环球银行(Swiss universal bank)增发20-30%股票的计划——这是2015年的方案的一部分，当时构想增加九十亿至一百一十亿瑞郎的资本。
He now intends to bring in SFr4bn through a rights issue. (Share sales in 2015 raised SFr6bn.)
他现在打算通过供股来注入四十亿瑞郎。(2015年的股权交易筹集了六十亿瑞郎。)
Shareholders had never been keen on the flotation, which would have diluted their returns from the division that contributes most to Credit Suisse's profits.
股东们从来不会热衷于增发新股，因为这将会稀释他们从红利分配中获得的收益，而红利分配占瑞士信贷利润的比重最大。
A climb in the share price, by more than 50% since July, has made a rights issue more attractive.
自7月来，股价增幅超过50%并正处于高点，这使得增发更加吸引人。
The issue will lift Credit Suisse's ratio of common equity to risk-weighted assets (a key gauge of banks' strength) from 11.7% to 13.4%.
股票发行会将普通股在风险加权资产中的比重(衡量银行实力的关键指标)从11.7%提高至13.4%。
That boosts it from a middling position among its European peers, but still leaves it behind Deutsche and UBS, its bigger Swiss neighbour.
这样的做法会使瑞信在处于中等位置的欧洲同行里脱颖而出，但是仍然排在德银和瑞银(瑞士联合银行)之后，而瑞银是瑞信在瑞士最大的邻居。
Mr Thiam claimed the quarterly figures endorsed a strategic shift towards Asia which he announced 18 months ago.
谭天忠宣称，季度数据确保了他在十八个月前曾宣布的面向亚洲的战略转移。对许多人来说，这种结构看起来不太平衡，但是谭天忠确信它正在见效。
He considers the region's newly rich to be ideal clients for a bank which can meet the needs of both their businesses and their families.
他把该地区的新富人视作银行的理想客户，这样的银行要能够满足他们来自企业与家庭的需求。
Credit Suisse's Asian division, like the Swiss universal bank, provides wealth management and investment banking locally.
瑞士信贷的亚洲分部，如瑞士环球银行，因地制宜地提供财富管理与投资银行服务。
Functional divisions serve the rest of the world.
各职能部门服务于世界其他地区。
To many, this structure looks lopsided.
对于很多人来说，这种结构看起来有点儿不平衡。
Mr Thiam is sure that it is working.
但谭先生确定这会起作用的。
The Asian wealth-management business saw profits rise by two-thirds in the year to the first quarter.
亚洲财富管理业在今年第一季度增长了三分之二。
The region's markets business tumbled into loss, but Mr Thiam insists that a change of management will help turn it around.
而该地区的市场业务陷入亏损，但是谭天忠坚持称管理方式的改变会有助于扭转现状。
All this should placate shareholders, who have had plenty to grumble about—and whom Mr Thiam faces at the annual meeting on April 28th.
所有这些消息都应该会安抚股东的情绪，他们已经有一大堆的抱怨了，而谭天忠会在4月28日的年度大会上面对这些人。
This month he and other executives gave up 40% of their latest bonuses, which had been criticised by advisers to institutional investors.
本月，他与其他高管放弃了最近一次奖金的40%，这次高额奖金早已受到机构投资者的顾问的批评。
The bosses had hit their targets, but the bank lost money in 2015 and 2016.
在2015与2016年，老总们达到了拿高薪的目的，但是银行却发生了亏损。
Better luck this year.
祝今年好运。
重点词组：
1.perk up 活跃起来
例句:He perks up and jokes with them.
他很活跃，还和他们开玩笑。
2.wind up 结束;使...紧张
例句:The President is about to wind up his visit to Somalia.
总统即将结束对索马里的访问。
3.retail business 零售业
例句:He does wholesale business, while his brother is engaged in retail business.
他经营批发生意，他弟弟则经营零售生意。
4.financial crisis 金融危机
例句:This financial crisis had a much greater impact on Main Street.
这次金融危机对老百姓的影响更为深远。
5.fiscal policies 财政政策
例句:For example, Germany and other countries could adopt more expansionary fiscal policies for a while.
例如，德国及其它国家可以暂时采取扩张性更强的财政政策。
6.turned out 结果是
例句:It turned out she was shacked up with a lawyer in New York.
原来她在纽约和一名律师同居了。
7.revise down 下调
例句:Analysts are again rushing to sharply revise down their growth and job projections for the year as whole.
这种情况下，分析师们又一次争相下调今年全年的经济增长和就业增长预测值。
8.global economy 全球经济
例句:Our trade and our commerce is the engine of our global economy.
我们的贸易和商务是全球经济的引擎。
相关推荐：
美国高端留学解决方案提供者