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Credit Suisse to slash investment bankers in Hong Kong as cuts continue

Just 20 roles will remain as Swiss lender scales back in the wake of UBS takeover

CEO Ulrich Körner is trying to plot a path forward for the ailing bank
CEO Ulrich Körner is trying to plot a path forward for the ailing bank Photo: Fabrice Coffrini/Getty Images

Credit Suisse is planning deep cuts to dealmakers in Hong Kong, with around 80% of investment banking staff set to be laid off, according to reports.

Cuts are set to begin this week, Reutersreports, with only a fifth of the 100-strong team in the location — the bank's biggest in Asia — spared.

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