U.K. financial-services employment fell for the second consecutive quarter as banks cut costs amid restrictions on capital and tougher regulation, according to a Confederation of British Industry survey.
Swiss private bank Julius Baer had 'reacted swiftly' to the recent appreciation of the Swiss currency by launching a cost savings program worth around 100 million Swiss franc ($108.03 million), the lender's CEO told CNBC.
Investors told to expect several potential large 'structural reductions'.
May be the biggest round of cuts since at least 2011.
To cut or not to cut ?
Goldman Sachs plans to eliminate more than 5% of traders and salespeople in its fixed-income business, cutting deeper into those operations than an annual company wide cull that has already begun, according to a person briefed on the matter.
FICC and global banking and markets may be impacted.