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Credit Suisse will reportedly let go of a third of its investment bankers in London by the end of this month, according to reports. The bank, which is in the process of integrating with its fellow Swiss lender UBS, has told investment bankers it will let go of around 80 of them in London.
Credit Suisse is set to launch a new round of layoffs which may impact more than 40 employees in one of its China units, two people with direct knowledge of the matter said, as the now subsidiary of former Swiss rival UBS cut costs following its takeover last month.
UBS's emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS investors it increasingly looks like a good deal for Switzerland's biggest bank.
Credit Suisse Switzerland executive board member Daniel Hunziker will take over the leadership of the bank's corporate clients business, it said on Monday.
A committee that reviews disputes in the credit default swaps (CDS) market said on Monday that UBS is the sole successor to Credit Suisse Group following the merger of the two banks.
UBS Group has decided to retain EY as its external auditor, enlarging its role to include Credit Suisse's accounts from 2024, the Financial Times reported on Sunday, citing people with knowledge of the decision.
A parliamentary investigation into the collapse of Credit Suisse will keep its files closed for 50 years, newspaper Aargauer Zeitung reported, triggering concerns among Swiss historians.
The "Halftime Report" traders debate the biggest analyst calls of the day.
A Swiss parliamentary investigation into the role played by state institutions in the collapse and emergency rescue of Switzerland's second biggest lender Credit Suisse will take 12 to 14 months to complete, its president said on Thursday.
UBS has halted plans to set up a new fund unit in China and decided to maintain ownership in a mega fund joint venture from its Credit Suisse takeover, two people with direct knowledge of the matter said.