Credit Suisse Appoints Aurélien Gleyze as Head of FX Spot for EMEA

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Credit Suisse Appoints Aurélien Gleyze as Head of FX Spot for EMEA

<p>Credit Suisse, a Switzerland-based global investment bank, has appointed
Aurélien Gleyze, its former Director and Co-Head of Electronic Macro Trading,
as its Head of FX Spot for Europe, Middle East and Africa (EMEA). </p><p>The new
role comes after Gleyze spent over two years in the former role.</p><p>The executive, who announced his new position on Friday on LinkedIn, joined Credit
Suisse in June 2014 as a Fixed Income Summer Analyst. He would later serve as
the Vice President of Electronic FX and Precious Metals Trading over the course
of the next six years before becoming a Director in November 2020.</p><p>Credit Suisse Starts Job Cut amidst Poor Finances</p><p>Gleyze's appointment comes days <a href="https://www.financemagnates.com/institutional-forex/credit-suisse-starts-job-cuts-goes-after-european-investment-bankers/" target="_blank" rel="follow">after reports emerged</a> that the Swiss banking
giant may shred its European investment banking team by over 10%. The firm in
October last year had disclosed plans to layoff approximately 9,000 employees
over the next three years. </p><p>Credit Suisse is also battling the departure of several of its senior
executives. At the start of the month, Cathal Deasy, the company's Co-Head of
Investment Banking and Capital Markets (IBCM) in Europe, <a href="https://www.financemagnates.com/executives/credit-suisses-cathal-deasy-exits-european-banking-co-head-role/" target="_blank" rel="follow">resigned from her position</a>.</p><p>Watch this recent FMLS22 session on constructing collaboration between fintech and banks.</p><p>The investment banking industry is generally fighting off tough economic
conditions, with global investment banking giant Goldman Sachs Group <a href="https://www.financemagnates.com/institutional-forex/goldman-sachs-joins-layoff-wagon-wants-to-cut-3200-jobs/" target="_blank" rel="follow">cutting out 3,200 positions </a>recently to reduce
its operating costs. However, Credit Suisse is facing more heat as the institution struggles
to recover from <a href="https://www.financemagnates.com/institutional-forex/money-laundering-case-involving-credit-suisse-finds-the-bank-guilty/" target="_blank" rel="follow">several scandals</a> and <a href="https://www.financemagnates.com/institutional-forex/credit-suisse-expects-500m-hit-from-a-bermuda-lawsuit/" target="_blank" rel="follow">lawsuits</a> that have been
trailing it over the years, including <a href="https://www.financemagnates.com/institutional-forex/data-leak-shows-credit-suisses-criminal-clientele-bank-denies-wrongdoings/" target="_blank" rel="follow">a massive data leak</a> in early 2022.</p><p>The Swiss investment banking giant, which is planning <a href="https://www.financemagnates.com/institutional-forex/credit-suisse-plans-to-raise-4b-as-a-part-of-radical-restructure/" target="_blank" rel="follow">a "radical restructure"</a> of its business, <a href="https://www.financemagnates.com/institutional-forex/credit-suisse-post-heavy-q3-losses-radical-restructure-needed/" target="_blank" rel="follow">posted heavy losses</a> in its third
quarter 2022 financial statements, with the figures reaching $4.99 billion. The
company in late November further disclosed that it was expecting to end the
fourth quarter with a pre-tax loss of <a href="https://www.financemagnates.com/institutional-forex/credit-suisse-expects-to-end-q4-with-a-loss-of-158b/" target="_blank" rel="follow">up to CHF 1.5 billion</a> ($1.58 billion). </p><p>However, the company recently said it was taking measures to boost its
finances, including <a href="https://www.financemagnates.com/institutional-forex/credit-suisse-plans-to-raise-4b-as-a-part-of-radical-restructure/" target="_blank" rel="follow">raising CHF 4 billion</a> ($4.01 billion) from
its investors and focusing on its wealth management business.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.

Source: Credit Suisse Appoints Aurélien Gleyze as Head of FX Spot for EMEA