Credit Suisse Group AG plans to move about 250 investment banker positions under the first phase of its Brexit planning, according to two people with knowledge of the matter.
Some employees in areas such as trading and M&A will most likely begin relocating from London to either Frankfurt or Madrid after the bank soured on Paris as an option, the people said, asking not to be identified as the plans are private. The bank backtracked on the French capital after discussions with local regulators and government officials, the people said. Positions not filled with relocations will lead to local hires.