Credit Suisse opened the European bank reporting season with some pretty sobering numbers – not least in fixed income sales and trading, where the Swiss bank had its worst first quarter since 2008. Low rates and new regulations were always going to hurt the business, but it is clear from the bank’s reaction – cuts will now be deeper – that it wasn’t expecting things to be quite this bad.
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BELLWETHER IS PRETTY confident in handing Sajid Javid the accolade as the first former head of credit trading for Asia-Pacific (excluding Japan) at Deutsche Bank to become UK culture secretary.
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