Credit Suisse to Cut 30% of Global Markets, Consolidates FX Cash & Options

[kreslik.news]

Credit Suisse has pledged to accelerate its cost cutting efforts after disappointing results throughout 2015. The financial institution is now aiming to restructure its business in order to return to profitability after losing close to $3 billion last year.

The company has also announced that the consolidation process of its Global Markets division will include a consolidation of the FX Cash and FX Options businesses into the STS operations of Credit Suisse, which are part of the Swiss Universal Bank.

In addition, the Swiss bank has announced that it is increasing cost cutting efforts by about $820 million. The move includes another ... (read more)