Credit Suisse to axe 100 UK jobs: FT


Credit Suisse will cut about 100 investment banking jobs in Britain as part of its restructuring plans designed to find 4 billion Swiss francs ($4.31 billion) of savings by 2015, the Financial Times reported on Tuesday.

The newspaper, citing a person familiar with the situation, said the job losses will occur over the next 90 days, mainly affecting the investment bank's equities, fixed income and advisory businesses.

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In January, Switzerland's second-largest bank by assets was targeting savings of 2 billion Swiss francs by the end of 2013, but it has since added another 2 billion Swiss francs and extended its time frame by two years.

Credit Suisse could not be reached for immediate comment.

($1 = 0.9287 Swiss francs)

(Reporting by Stephen Mangan; Editing by Eric Beech)