Credit Suisse quits Taiwan

Credit Suisse exits Taiwan fixed income

The Swiss bank is closing its Taiwan bank branch as it restructures the fixed income business worldwide.

Credit Suisse is closing its Taipei bank branch as part of a plan to shore up its fixed income business worldwide. It informed the Taiwan Banking Bureau of its intentions on Tuesday, according to a statement it released last night.

“Credit Suisse is working with the local regulators to ensure minimal disruption to its business activities in the Taipei Bank Branch and to its clients, as well as making appropriate arrangements for impacted staff,” said the statement.

The third quarter was a rough one for fixed income bankers, with revenues at the 10 biggest investment banks falling by a third from the second quarter, according to Coalition,...

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