Credit Suisse to move jobs from London to Dublin

Credit Suisse Group is planning to move some jobs from London to Ireland as it cuts costs at its investment bank, according to two people with knowledge of the matter.

Switzerland’s second biggest bank has applied to Ireland’s Central Bank for permission to set up a branch in Dublin, the people said yesterday. The sources asked not to be identified as the talks are private.

One of the sources said the bank plans to relocate some business in prime services, which includes lending securities and cash to hedge funds and settling trades for them. Some general support functions and IT operations may also be moved, the person said.