Credit Suisse set to cut 10% of European investment bankers -FT

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Swiss lender Credit Suisse is looking to cut more than 10% of its staff of European investment bankers this year, the Financial Times reported on Saturday, citing people with knowledge of the moves.

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Breakingviews - Valuing Michael Klein is a fascinating sideshowCredit Suisse Chief Executive Ulrich Körner has two thorny valuation riddles. He wants Michael Klein to run a soon-to-be-spun-off investment banking unit. Körner must first buy the star rainmaker’s eponymous advisory firm and merge it into a newly christened First Boston. Depending on how the two businesses are valued, it could mean a big payday for Klein. Luckily for Körner, that only happens if Credit Suisse shareholders also make money.
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