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Credit Suisse to move trading floor to Dublin

Credit Suisse is planning to set up a trading floor in Dublin. The floor, which will be a major one for the bank, is intended to move 40 traders and 60 support staff to Ireland as part of a cost-cutting drive. The proposal comes weeks after the bank’s new chief executive Tidjane Thiam unveiled a wide-ranging plan to restructure the bank, cut costs and raise funds. The plan also includes moving up to 1,800 jobs from London to cheaper cost centers. Credit Suisse’s talks with the Central Bank of Ireland predate the restructuring announcement, but are part of the same drive to cut costs, a source familiar with the situation said. He would not comment on how many other jobs could go to Dublin.

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