There's been a lot of speculation about large scale job cuts
in investment banking and wealth management for a few weeks now. Reuters reports that Societe Generale has
downgraded Credit Suisse to 'sell' from 'hold', saying that the Swiss firm
remains heavily leveraged and adding that expectations on investment returns
and a subsequent increase in assets under management at the Swiss bank are
still too high.
SocGen also said that, in general terms, European banks can
expect poor revenues from debt capital markets and exceptionally low trading
volumes in fixed income and equity markets.
Check out http://hereisthecity.com/2012/06/12/top-firm-could-make-material-headcount-reductions-in-investment/
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