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Credit Suisse axes prop risk as more jobs are culled
Renée Schultes
04 Dec 2008
04 Dec 2008
 |
Friday
09 January 2009
02:47 GMT
Credit Suisse, which this morning said it will cull 3,800 job cuts in investment banking over the next year, reduced its trading risk by a third in the first two months of the fourth quarter and started to exit certain proprietary trading businesses, which contributed to a Sfr3bn (€1.96bn) loss in the period.
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