Navigation

CSFB sacks 18 bankers in Asia

Creidt Suisse First Boston shakes-out 18 bankers in Asia Keystone

Credit Suisse First Boston (CSFB), the investment-banking arm of the Credit Suisse Group, fired 18 investment bankers in Asia on Friday as it cuts costs amid the global economic slowdown and consolidates its headcount following its merger with a United States bank.

This content was published on August 17, 2001 - 11:10

"We have cut 18 investment bankers in Asia and the majority of those are bankers based out of Hong Kong. The remaining are staff from Singapore," said Tom Grimmer, CSFB's spokesman in Hong Kong.

"There were two reasons for the cut, firstly, the global economic slowdown and secondly, the move is a further adjustment of staff after our acquisition of DLJ (Donaldson, Lufkin and Jeanrette)," he said.

CSFB, which completed its acquisition of DLJ in November last year, employs about 1,200 staff in Asia excluding Japan. Among them are 140 investment bankers.

swissinfo with agencies

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?