Following reports of job cuts in both Hong Kong and Japan, Credit Suisse in Australia has also seen job loses in its equities research unit.
Credit Suisse's local deputy head of equities research and senior metals and mining analyst Paul McTaggart has left the bank, according to The Australian Financial Review (behind paywall).
McTaggart, a managing director with about 10-years service at Credit Suisse, has apparently left after the recent bonus round.
It's understood McTaggart is among a handful of changes at the Swiss bank, whose local equities research team was ranked No.1 in the Peter Lee Associates survey last year.
Also gone is Richard Hitchens, who oversaw quantitative analysis in the bank's macro equities research unit, along with some job cuts in the fixed income team.
Job Losses in Asia
As the Zurich-based bank scales back its investment banking activities to focus more on wealth management, Credit Suisse is cutting senior bankers in equities in North Asia.
finews.asia reported last week that Credit Suisse cut at least half a dozen equities jobs in Hong Kong and Tokyo, including several notable bankers.
Among those said to be departing are Matt Pecot, head of prime services for the Asia-Pacific region, and Jamie White, a Hong Kong-based director for sales trading, the bank also let go four equity analysts in Tokyo.
