Credit Suisse cuts India wealth management headcount by 20%

Swiss bank Credit Suisse is reducing about 20% of its staff in the India wealth management unit as part of its global headcount reduction plans amid tough market conditions, two sources with knowledge of the situation said on Friday. Out of about 60 people in Credit Suisse’s India wealth management unit, 12 are leaving the firm, the sources said, adding Puneet Matta, head of the business unit, left the bank about a week back.

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