Credit Suisse is relocating its spot desk in London to Zurich. The decision is said to affect fewer than 10 traders, who might or might not make the move. “In order to maximize efficiencies and streamline our foreign exchange trading business, we are combining our London and Zurich spot trading desks. A single European spot trading desk will allow us to deliver better service to our clients and maintain a leading position in the FX market,” the bank says.
CS has also closed its southern Europe sales desk. Its function has been rolled into the London bank-coverage desk and the southern Europe sales desk located in Zurich. Four members of staff might be affected.
Option face Alex Finney is also leaving for pastures new. His destination is as yet unknown.