Credit Suisse Is Cutting Senior Investment-Banking Jobs

Credit Suisse Group AG has been cutting senior investment-banking jobs as the Swiss bank reorganizes its European advisory business to boost profitability, according to three people with knowledge of the matter. Since February, the bank has let go about 26 directors and managing directors with responsibility for mergers and acquisitions and industry coverage, the people said, asking not to be identified as the decisions aren’t public. The investment bank was reorganized last year when Mathew Cestar and Jens Welter became co-heads of the advisory and origination business in Europe, the Middle East and Africa.