Credit Suisse rehires MD ahead of cost-cutting
All will become clearer at Credit Suisse next month, when the bank announces its third quarter results and its new strategy for the investment bank. It's not entirely clear what will happen yet, but it's likely to involve cutting costs. And there are some signs that the bank is making preparations for this.
In London, Credit Suisse has just rehired Sophie Bridge, the former COO of its equities business. Bridge, who has rejoined the bank as an MD, worked under former head of EMEA equities Mike Di Iorio for three and a half years before leaving in May 2021. She's spent the past 17 months working part time for a litigation funding provider. But now she's back, in the nick of time for assessing where the fat is in Credit Suisse's investment bank.
Bridge's specialities include strategy and revenue and cost assumptions. She's not Credit Suisse's only COO for the investment bank - there's also Elodie Blanc and Warren Young. As October approaches, there's evidently enough work for three senior people.
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