Credit Suisse has confirmed that it expects to cut around 100 jobs from its asset management unit.
Following media reports of the headcount reductions yesterday, a spokesperson for Credit Suisse told theTRADEnews.com that the cutbacks were targeted staff reductions from non-investment related roles.
It was also confirmed that the UK would only represent a small proportion of these job losses overall.
The losses follow an announcement in April of up to 1,000 job cuts in the investment banking division of Credit Suisse, accounting for 5% of the department.