Swiss bank shuts its commodities trading unit amid poor financial results
Credit Suisse has become the latest high-profile investment
bank to quit commodities trading as part of a wider restructure
of its investment banking division.
In its second quarter earnings release the Swiss-based bank
said it will exit the business to relocate resources to more
profitable areas, after it reported a revenue loss of 6% in
investment banking primarily due to weakness in global macro
products such as commodities.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.