Credit Suisse Axes Equities Jobs in Hong Kong, Tokyo

Credit Suisse unveiled more cuts to its personnel regiment, its first such development since posting its $2.4 billion loss last month. Its latest cuts are more muted in scale, entailing less than ten jobs in its Asian Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term decks.

More specifically, Credit Suisse Group is jettisoning half a dozen equities jobs in Hong Kong and Tokyo as part of its plan to restore profitability, according to a Bloomberg report. The decision represents a departure from Credit Suisse’s strategy thus far, which has focused on cuts in the UK or Europe.

Back in December, Credit Suisse announced an additional round of cuts in Switzerland, as well as plans to restructure its business in order to return to profitability after losing close to $3 billion. The bank revealed that it would be seeking to increase its cost cutting efforts by around $820 million.

Part of the Plan

Last month in its annual report, Credit Suisse also revealed that it would also part ways with upwards of 5,500 jobs in 2017 – this compares with a total of 7,250 cuts last year, part of its eventual 2018 cost-cutting target. The majority of job losses have been confined to the back office, IT, and branch jobs.

In particular, the lender is also axing the role of Matt Pecot, Credit Suisse’s Head of Prime Services for the Asia-Pacific (APAC) Asia-Pacific (APAC) The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or Read this Term) region, and Jamie White, a Hong Kong-based Director for Sales Trading – the other layoffs were four equities analysts in Tokyo.