Credit Suisse May Eliminate 500 Switzerland Jobs in Wider Revamp
- Bank to integrate Neue Aargauer Bank under a single brand
- Credit Suisse sees deep reductions to Swiss branch network
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Credit Suisse Group AG may cut as many as 500 jobs in Switzerland as it cuts branches and absorbs a wholly-owned subsidiary as part of a wider revamp unveiled last month.
Andre Helfenstein, head of the lender’s Swiss Universal Bank, made the estimate on a conference call after the company said it will integrate the Neue Aargauer Bank AG unit under the Credit Suisse brand as part of a plan to save about 100 million francs ($109 million) annually starting in 2022.