Credit Suisse has decided to leave some of its offices in Canary Wharf as a result of the increased costs expected after Brexit and the bank decision to cut thousands of jobs. The Swiss banking giant consolidates its London footprint and plans to cut the number of employees in the UK to 5,000 by the end of 2018. Rationalization measures are part of Tidjane Thiam greater efforts to simplify bank operations and focus team efforts to the management of funds. Many of the redundancies come after the introduction of high technology, which is expected to take a large part of the work with customers.
Source: City A.M.
Jr Trader Petar Milanov
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