Credit Suisse cuts most Japan investment banking staff -sources

TOKYO :Credit Suisse Group has cut most of the 20-plus jobs at its investment banking division in Japan, three people familiar with the matter said, as the embattled Swiss bank revamps its business globally.

Credit Suisse's investment banking division, which houses capital markets and M&A advisory businesses, has undertaken a two-phase restructuring in Japan, nearly halving the number of its bankers in November and then shedding all but a few in January, two of the people said."Credit Suisse remains committed to our investment banking & capital markets clients throughout the APAC region," the company told Reuters in response to a query.

Credit Suisse's restructuring plan includes creating a separate unit for its investment bank under the CS First Boston brand. As part of this, it is carving out the business with veteran banker Michael Klein at the helm. Credit Suisse will focus on managing money for the wealthy after the revamp. Credit Suisse also runs wealth management, equity research, securities trading and asset management businesses in Japan.

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Credit Suisse cuts most of Japan investment banking headcount - sourcesTOKYO :Credit Suisse Group has cut most of its investment banking division headcount in Japan of more than 20 staff, three people familiar with the matter said, as the embattled Swiss bank revamps its business globally.The sources declined to be identified as they were not authorised to talk to the media.
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »

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