Credit Suisse is seeking to sublet as much as 64,000 square feet of office space in Hong Kong’s tallest skyscraper, as prime office vacancies rise in the city amid job cuts by global financial services companies.
Bloomberg reports that the Zurich-based bank is looking for tenants to take up two floors, or about a fifth of the space it currently occupies at the International Commerce Centre in West Kowloon, according to two people with knowledge of the matter, who declined to be identified because the information isn’t public.
Global banks, including Morgan Stanley and UBS, are trimming jobs in Asia as an economic slowdown reduces demand from companies for investment banking services. Barclays plans to eliminate at least 15% of its investment banking positions in the region, people with knowledge of the matter said last week.
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