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Credit Suisse plans to scale back dealmaking unit in Europe
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Credit Suisse's dealmaking unit spin-out is set to lead to deeper job cuts in Europe as it pivots the business towards the larger US fee pool.
The Swiss bank will reshape its investment bank in Europe, the Middle East and Africa around M&A work, and pull back from capital markets activity after consistently underperforming, its chief executive, Ulrich Körner, told journalists during a 27 October call announcing its new strategy.
"We...
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