1 year ago
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Investment banking roles expected to be worst hit at Credit Suisse in London
The fate of thousands of jobs in London’s financial district is in doubt after the emergency merger of Swiss banks UBS and Credit Suisse.
The two lenders are yet to spell out in detail what their rushed union may mean for the more than 5,000 Credit Suisse and about 6,000 UBS staff based in London.
The Swiss government forced through a takeover of Credit Suisse by its rival UBS on Sunday for almost $3.25bn (£2.65bn) – well below its market value at the time – amid fears its collapse could trigger a banking crisis.
