Tuesday , 29 October 2024
Home Global Economy Credit Suisse will well outsource part of its purchases
Global Economy

Credit Suisse will well outsource part of its purchases

Nearly half of the employees of the bank with two active sails in this sector will be transferred, according to a circular which AWP received a copy on Tuesday.

Thanks to this transaction, which was blown out by the Finews information portal in mid-November, the number two Swiss bank is anticipating ‘significant’ financial repercussions. The subcontract will take effect at the beginning of April.

According to sources familiar with the matter, the sector concerned employs between 250 and 300 people, half of whom will be transferred to Chain IQ. There should be no job cuts. Outsourcing is expected to save Credit Suisse around CHF 4 billion.

Based in Zurich and with subsidiaries in New York, London, Singapore, Mumbai and Bucharest, Chain IQ is present in around twenty countries and counts among its most important clients, notably UBS (since 2013), BNP Paribas, the agency of financial information Thomson Reuters, the insurer Baloise and the chain of department stores Manor.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Global Economy

Spotlight on 2023: S&P 500 and the Significance of the 4400 Level

In our past exploration of the financial landscape of 2023, we delved...

Global Economy

AI and Data Analytics Drive Efficiency in Money Laundering Detection

BIS Innovation Hub Turns to Tech for Money Laundering Detection The BIS...

Global Economy

Russell 2000 Gains Momentum as Tech Stocks Outperform Value

Tech stocks have dominated the equity markets in recent months, surpassing value...

Global Economy

Crypto Exchange Bybit Announces Exit from Canadian Market Amid Regulatory Changes

Regulatory Shifts Prompt Bybit's Strategic Withdrawal from Canadian Crypto Market