Credit Suisse to axe 100 UK jobs - FT

LONDON Tue Nov 27, 2012 1:27am GMT

The logo of Swiss bank Credit Suisse is seen at the company's headquarters in Zurich February 9, 2012. REUTERS/Arnd Wiegmann

The logo of Swiss bank Credit Suisse is seen at the company's headquarters in Zurich February 9, 2012.

Credit: Reuters/Arnd Wiegmann

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LONDON (Reuters) - Credit Suisse will cut about 100 investment banking jobs in Britain as part of its restructuring plans designed to find 4 billion Swiss francs (2.7 billion pounds) of savings by 2015, the Financial Times reported on Tuesday.

The newspaper, citing a person familiar with the situation, said the job losses will occur over the next 90 days, mainly affecting the investment bank's equities, fixed income and advisory businesses.

In January, Switzerland's second-largest bank by assets was targeting savings of 2 billion Swiss francs by the end of 2013, but it has since added another 2 billion Swiss francs and extended its time frame by two years.

Credit Suisse could not be reached for immediate comment.

(Reporting by Stephen Mangan; Editing by Eric Beech)

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