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Credit Suisse to cut 100 UK jobs in banking shake-up
by Sarah Miloudi on Nov 27, 2012 at 08:08
Credit Suisse is set to make around 100 job cuts in the UK after its decision to create two distinct parts of its business.
Last week the Swiss bank announced it would create an investment banking and a private banking and wealth management division as part of a drive to streamline its operations.
Around a hundred jobs will go as part of this reorganisation, a source close to the reshuffle told the Financial Times. According to reports Credit Suisse will make the cuts in around 90 days' time, with the positions set to disappear from its investment banking division.
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As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
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