Credit Suisse has faced ongoing challenges in the third quarter, chief executive Tidjane Thiam said on September 27, as the Zurich-based bank moves ahead with thousands of job cuts planned by the end of this year.

Speaking at an investment conference in London, Thiam said the equities business at Credit Suisse's investment bank is likely to make a relatively weak contribution to overall results in the third quarter - as it had in the second quarter, when revenues from equities businesses declined 10% compared with the same period a year earlier.