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Credit Suisse Is Cutting Senior Investment-Banking Jobs

  • Swiss bank said to cut managing director level jobs in London
  • Investment bank reorganized last year with new co-heads
Credit Suisse's Role In Focus As Rogue Banker Trial Opens
Photographer: Stefan Wermuth/Bloomberg
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Credit Suisse Group AG has been cutting senior investment-banking jobs as the Swiss bank reorganizes its European advisory business to boost profitability, according to three people with knowledge of the matter.

Since February, the bank has let go about 26 directors and managing directors with responsibility for mergers and acquisitions and industry coverage, the people said, asking not to be identified as the decisions aren’t public. The cuts have mostly been focused on London, the people said.