CS faces more cuts after equities slide

摘要

Credit suisse boss Tidjane Thiam is expected to take a knife to the Swiss bank's global markets business again next month as he strives to cut costs, after a tough last quarter for its European equities arm. Credit Suisse's equities revenues fell 32% in the third quarter from a year ago to SFr663m, hurt by a weak performance in London. Most banks had a weak quarter in equities, but their decline was only 7% on average.