Credit Suisse to Slash $1.1 Billion More on Plunging Profits
It will cut additional jobs and possibly sell off its ETF business, seeking to make up for a drop in profits of 63%.
Julius Baer May Cut 1,000 Jobs After Merrill Acquisition
The bank seeks to reduce its workforce by 15%–18%, now that it has a combined staff of some 5,700 in the wake of its acquisition of Bank of America-Merrill Lynch’s former U.S. wealth management units.
Baer Agrees to Buy Merrill Non-U.S. Wealth Units
Neither analysts nor investors appeared enthusiastic about the move.