Credit Suisse Said to Cut 175 London Jobs Ahead of Investor Day
- Swiss bank is cutting costs, pulling back from debt trading
- Chief Executive Thiam is reducing heacount by 6,000 this year
U.K. Banking Jobs Are on the Chopping Block
This article is for subscribers only.
Credit Suisse Group AG is cutting about 175 jobs in London this week to lower costs, part of its overhaul that sees the lender focusing more on wealth management, according to three people with knowledge of with the matter.
The measures will bring the bank closer to a previously announced goal of eliminating about 6,000 jobs this year and scale back the global markets business, said one of the people, who like the others asked not to be identified because the information is private. A large number of Credit Suisse’s employees in London work in the investment bank.