Risk cuts leave Credit Suisse bankers quaking

摘要

CREDIT SUISSE's new chairman Antonio Horta-Osorio is assessing how far to go in de-risking its investment bank after two damaging scandals. These are likely to lead to a period of "risk-off" retrenchment and constrained capital and more bankers leaving. Credit Suisse's forte has often been serving clients with riskier prospects or in riskier areas, such as leveraged finance, sub-prime credit trading and securitisation teams providing structured credit and asset finance. Another calling card has been its entrepreneurial culture, so swinging the axe too deeply could hammer returns and see exits accelerate - especially with rivals circling in a hot jobs market.