C Suisse to make more cuts at investment bank

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Investors told to expect several potential large 'structural reductions'.

Credit Suisse is to make more cuts at its investment bank, which helped the Swiss group to produce stronger-than-expected earnings in the third quarter.

Reuters reports that the bank has already scaled back its investment banking division, mainly in fixed income, to try to balance it more evenly with its private banking arm, which caters to the financial needs of the wealthy.

Credit Suisse told investors to expect several potential large 'structural reductions,' following the earlier cuts that included parts of its bond-trading division and commodities.

Finance chief David Mathers did not say where the latest cuts would be made. 'I don't think I'm going to be specific.'

But the bank said it was too early to pinpoint where further cutbacks might take place.

Hit the link below to access the complete Reuters article:

Credit Suisse flags more investment bank cuts

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