Credit Suisse

Swiss banking giant Credit Suisse will cut another 1,500 jobs from its global workforce of 50,700 despite profits rising in Q3, the BBC has reported.

The Financial Services Authority (FSA) has fined Credit Suisse £5.95m for systems and controls failings in relation to sales by its private bank of structured capital at risk products (SCARPs).

Aberdeen's multi-manager team has restructured its £95m Constellation fund into a portfolio of 20 equally-weighted best ideas, in a bid to differentiate it from the range's £66m Equity Managed fund.

COCO MARKET SET FOR RAPID GROWTH

ETFs

The CEO of Credit Suisse hopes to begin issuing billions of dollars in contingent-capital bonds in the next year to strengthen the bank's balance sheet ahead of ahead of Basel III, the Financial Times reports.

ETFs

Credit Suisse has joined the UK ETF market, launching 45 funds on the London Stock Exchange.

Prosecutors have raided 13 branches of Swiss bank Credit Suisse in Germany in connection with allegations staff helped clients evade taxes.

Aberdeen has halved the number of stocks in the £52m European Frontiers fund in the year since it bought the vehicle from Credit Suisse.