View more on these topics

Credit Suisse to cut 2,000 jobs

Credit Suisse is to cut 2,000 jobs by the end of 2012 in a bid to make cost savings across the business.

The move sees the firm cut around 4 per cent of its global workforce and comes after it reported a 52 per cent year-on-year fall in net profits in the second quarter of 2011.

Credit Suisse announced a net profit of £586m in the second quarter but says the results were hurt by a strong currency and a fall in trading.

The cuts are expected to make a saving of 1bn Swiss francs (£760m) next year. Job losses are expected across all divisions at the firm, with a focus on its investment bank.


Virgin cools interest in 630 Lloyds branches

Virgin Money is set to cool its interest in the 630 Lloyds Banking Group branches for sale and will instead focus its intention on Northern Rock. Virgin chief Sir Richard Branson had seen the LBG branches as a way of gaining a way to gain a significant foothold in the UK retail banking sector. But, […]

Government amends basic pay definition

The Government has bowed to industry pressure over automatic enrolment self-certification rules and amended its definition of basic to exclude “variable elements” such as commission, bonuses and overtime. In May, Money Marketing revealed that a last-minute change to the tests used by employers to self-certify their pension scheme meant they would be based on basic […]

Partnership warns that LTC will still be pricy despite Dilnot

Partnership has written to Aifa members warning that long-term care will remain costly under Andrew Dilnot’s reform proposals. Oxford economist Dilnot published his final recommendations for long-term care reform earlier this month. These included implementing a cap on the costs of long-term care borne by individuals of between £35,000 and £50,000 and an increase to […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm