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Credit Suisse Cuts Dozens in Asia Investment Bank Overhaul

  • Zurich-based bank initiated round of job cuts in the region
  • Lender is grappling with quarterly losses and volatile markets
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WATCH: Credit Suisse is cutting more than two dozen roles at the investment bank in Asia. Michael Moore reports.

Source: Bloomberg

Credit Suisse Group AG is cutting more than two dozen front line roles at the investment bank in Asia as the Swiss lender grapples with losses and a weakening outlook for the global economy, people familiar with the matter said.

The reductions in recent weeks fell across businesses including deal-making and trading, the people said, asking not to be identified discussing private information. They are part of a global effort to reduce costs, and more cuts may follow in the fourth quarter, one of the people said.