Credit Suisse to Discontinue Employment Contracts in Asia Equities - BHB Equity Group

 

Contact Information
Thomas May
34/F., One Kowloon, 1 Wang Yuen Street,
Kowloon Bay
Kowloon Bay -
Hong Kong
85258083771
contact@bhbequity.com
 
According to sources who declined to be identified because of the confidential nature of the matter, Credit Suisse Group Ag could be discontinuing the employment contracts of as many as 35 employees at its equities tranche in Asia.

The source went on to say that Credit Suisse is looking to cut sales, trading and research positions. The most recent phase of job cuts, which began approximately 2 months ago, should be concluded by the middle of the year.

Credit Suisse is reshuffling a markets business that was branded out as unsuccessful and dealing with reduced performance and client activity by the current Chief Executive Officer Tidjane Thiam when he announced first-quarter revenuesin April this year.

“In the first quarter equities trading profit decreased by 16 percent in the Asia-Pacific region, damaged by a drop in derivative trades,” said Robert Stutgart at China based BHB Equity

When contacted, Credit Suisse refused to offer any comment of the rumoured job cuts.

In addition, Switzerland-based financial institution, Credit Suisse is looking to decrease the size of the Asian equities unit’s overheads in an effort to make capital available for use in other more profitable areas.

This seems to be a growing trend as numerous other investment banking institutions reduced the scope of their Asian Equities businesses in 2016 with some departing from the sector altogether. In particular, Chinese markets have been experiencing a volatile phase that has made it increasingly difficult to anticipate market trends, contributing to the overall caution in sentiment.

About BHB Equity Group:
BHB Equity Group consists of experienced financial professionals with a “hands on” approach to financial guidance. Not only will you find our team members experts in their field, but you will also discover that our staff truly cares about making your dreams a reality. As your trusted financial advisors, we will stop at nothing to keep you focused on where you want to go, advise you on how to get there, and continually remind you of the importance of maintaining a disciplined approach to realizing your dreams.

BHB Equity Group, Credit Suisse, equities, investment

 

If you have any questions regarding information in this press release, please contact the person listed in the Contact / Company information box of this page. Please do not attempt to contact Market Press Release. We will be unable to assist you with any information regarding this release. Market Press Release disclaims any content contained in this press release.