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Credit Suisse lays off one-third of China-based investment bankers – sources

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Credit Suisse has laid off about one-third of its China-based investment banking team and nearly half of its research department, sources with knowledge of the matter told Reuters, as part of a global restructuring and as its China business slows.

Credit Suisse’s China annual report shows it had 68 people in its investment banking department at the end of last year.

Reuters reported this month that Morgan Stanley was poised to announce staff cuts worldwide, with teams focusing on China-related business bearing the brunt. Earlier this month, Reuters reported that the bank was slashing jobs in Asia, including eight roles based in Southeast Asia.

 

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France Dernières Nouvelles, France Actualités