Credit Suisse Says Most Cost Cuts Will Be Administrative

Credit Suisse Group AG’s job cuts have created a “sustainable business model” and future cost savings will be sought in “our shared services and platform-type costs,” Chief Executive Officer Brady Dougan said.

Those areas, which include administrative functions and technology, are “where the bulk of the cost reductions going forward will come from,” Dougan said today in an interview on CNBC.

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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