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Credit Suisse says to quit as bond primary dealer across Europe

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 22 (Reuters) - Credit Suisse (LSE: 0QP5.L - news) said on Thursday that it was giving up its role as primary dealer in all European bond markets, but would remain a primary dealer in the United States.

Credit Suisse chief executive Tidjane Thiam said in a conference call with analysts on Thursday that he would scale back operations in Europe and Asia after announcing plans to boost its capital to meet stricter Swiss financial regulations.

Earlier on Thursday the UK Debt Management Office reported that Credit Suisse would resign as a primary dealer for British government bonds, effective from close of business on Friday. (Reporting by Alex Chambers, writing by David Milliken)