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Credit Suisse Investment Bank Co-Head Leaves On News of Job Cuts So Departs
[ by Melanie Gretchen ]
Credit Suisse will cut 100 jobs at its investment banking operation, according to a person with direct knowledge of the plan. The cuts to the unit in Britain, which will affect the Swiss bank's equities and fixed-income divisions, is part of the bank's continuing $4.3 billion cost-reduction program.
In the global investment bank unit, co-head Luigi de Vecchi, who went on sabbatical, has departed. He was expected to return to the bank in an "important senior client coverage role" after the sabbatical, according to an internal memorandum at the time.
For further details, go to [Dealbook, 11/26/12].
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