Credit Suisse to Cut Up to 35 Asia Equities Jobs by June
- Cuts come after trading revenue slumped in first quarter
- Firm is seeking to reduce equities unit balance sheet in Asia
Credit Suisse's CEO Says 1Q Has Been 'Really Good'
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Credit Suisse Group AG is cutting as many as 35 positions at its equities business in Asia after the unit’s revenue slumped, a person with knowledge of the matter said.
The firm is mainly culling trading, sales, prime brokerage and research positions in the region, according to the person, who asked not to be identified discussing private information. The latest round of reductions, which started about two months ago, will be completed by June, the person said.