Enquiries from Finance Dublin to the Central Bank on rumours about the move in the past year have met with no comment from the CBI and Credit Suisse up to now.
Credit Suisse plans to relocate some business in prime services, which lend securities and cash to hedge funds and settle trades for them, a source said, according to Bloomberg. This will involve about 40 traders and some 60 back-office staff moving to Dublin from London, it said.
Credit Suisse Chief Executive Officer Tidjane Thiam, who took the top job earlier this year, is overhauling securities trading in a bid to boost returns for shareholders and meet tougher capital requirements. As part of his restructuring, the CEO plans to eliminate as many as 2,000 positions in London and scale back operations in prime services by the end of the year, Bloomberg reported.
Sofia Rehman, a spokeswoman at Credit Suisse in London, declined to comment to Bloomberg.