Swiss Volksbank To Shut Down Foreign Desks Effective April 30
BANKS
Swiss Volksbank's trading rooms outside Switzerland are expected to cease operations on April 30, says SVB treasury director Klaus Christen. The shutdown will follow the planned completion of the bank's merger with Credit Suisse parent CS Holdings during the month.
According to Christen, a few traders from SVB in New York and Singapore have already begun moving over to the trading rooms of Credit Suisse.
The agreement between CS Holdings and SVB provides that the smaller bank will retain a
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