The unit has been absorbing about $400 million of expenses annually for corporate services, many of which it rarely, if ever, uses, they said. Without these, the U.S. brokerage generated profit of at least $200 million annually since 2010, they said.

For example, Credit Securities (USA) was routinely charged more than $100 million a year for products and back-office services from European headquarters that it actually purchased from Bank of New York's Pershing LLC, said a former executive who sought anonymity because of contractual agreements.

Bank officials said costs for services ranging from corporate jets to legal expenses are assigned across the bank and is standard practice for multinational corporations.

"Allocations come with being part of a big bank, which gives you benefits as well," said another former executive, Michael Campbell, who ran the retail brokerage business at Donaldson, Lufkin & Jenrette and, briefly, at Credit Suisse. But if the business stood alone, he said, "it would be wildly profitable."

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