Gruebel Says Credit Suisse Has Too Many Workers, Finanz Reports

Credit Suisse Group AG (CSGN) employs 3,000 to 5,000 too many workers in its investment banking unit considering revenue potential, former UBS AG (UBSN) Chief Executive Officer Oswald Gruebel told Finanz & Wirtschaft in an interview.

Gruebel also said future management of major Swiss banks will be about shrinking balance sheets rather than creating growth, the newspaper said.

To contact the reporter on this story: Corinne Gretler in Zurich at +41-44-224-4100 or cgretler1@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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