Credit Suisse CEO Seeks Further Cost Cuts at Global Markets
- Global markets unit to post profit in third quarter, CEO says
- Company has cut 4,800 jobs out of targeted 6,000 for 2016
This article is for subscribers only.
Credit Suisse Group AG is seeking ways to further reduce costs at the trading unit already targeted for deeper cuts after it blindsided Chief Executive Officer Tidjane Thiam with losses this year.
“We’re now working under the new leadership of Brian Chin to identify further structural cost savings” in the global markets unit, Thiam said at a conference in London on Tuesday. “This will involve further reduction of duplication, streamlining of our operating platform and better use of technology.”