Credit Suisse to Extend Global Job Cuts to Wealth Next Week
- Global private banking dismissals set to start in Asia Pacific
- Bank signaled during overhaul announcement it plans 2,700 cuts
This article is for subscribers only.
Credit Suisse Group AG is planning a fresh round of job cuts at the global wealth management business starting next week, adding to dismissals that already started at the investment bank, according to people familiar with the matter.
The Swiss lender is preparing to notify affected personnel, mostly support staff and investment advisors at this stage, as soon as Monday, the people said, asking not to be identified discussing confidential information. In Asia Pacific, some wealth teams could see cuts of about 10% of headcount, two people said.