Credit Suisse to axe 100 UK jobs: FT

Mon Nov 26, 2012 8:26pm EST
 
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LONDON (Reuters) - Credit Suisse CSGN.VX will cut about 100 investment banking jobs in Britain as part of its restructuring plans designed to find 4 billion Swiss francs ($4.31 billion) of savings by 2015, the Financial Times reported on Tuesday.

The newspaper, citing a person familiar with the situation, said the job losses will occur over the next 90 days, mainly affecting the investment bank's equities, fixed income and advisory businesses.

In January, Switzerland's second-largest bank by assets was targeting savings of 2 billion Swiss francs by the end of 2013, but it has since added another 2 billion Swiss francs and extended its time frame by two years.

Credit Suisse could not be reached for immediate comment.

($1 = 0.9287 Swiss francs)

(Reporting by Stephen Mangan; Editing by Eric Beech)

 
A logo is seen in front of a Credit Suisse building in Zurich, May 4, 2012. REUTERS/Christian Hartmann