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Credit Suisse narrows scope of Canadian operations Add to ...

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Global investment bank Credit Suisse Group AG narrowed the scope of its operations in Canada on Thursday, a move that resulted in a modest reduction in head count, as part of a larger strategic move to focus on key sectors and cut costs.

Credit Suisse told approximately 110 Canadian employees that its core sectors in the domestic market are energy, mining and diversified industries, and it is shifting equity research and sales coverage of industries such as banking, telecom and retailing from Toronto to New York. The decision resulted in the departure of eight employees, including Canadian analysts who follow financial services, consumer products and telecom stocks.

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