Troubled Swiss lender Credit Suisse has reportedly cut most of the headcount in its Japanese investment banking division.
Credit Suisse has cut most of the headcount in its investment banking division in Japan, according to a «Reuters» report citing unnamed sources, which had more than 20 staff.
«Credit Suisse remains committed to our investment banking & capital markets clients throughout the APAC region,» said a spokesperson for the bank. «Our global franchise will continue to work with clients in all key markets including Japan, as it has done for many years.»
Credit Suisse’s investment banking division undertook a two-phase restructuring in Japan, the report added. It halved the number of bankers in November and then proceeded to unload all but a few in January.
