ZURICH (Reuters) - Credit Suisse (SIX:CSGN) Group will cut around 15 percent of its 60-strong team of rates traders in New York and London to focus on electronic trading.
"This will allow us to re-invest into our electronic platform and lean into product areas that better align to market environment and client demand," a spokeswoman said, confirming the contents of a staff memo seen by Reuters.
The Swiss-based bank will enhance its international trading solutions service for corporate, wealth management and institutional clients and maintain its U.S. Treasury and Swiss primary dealerships, she added.