Aberdeen to rationalise Credit Suisse business

Aberdeen Asset Management is expected to cut a significant proportion of the 586 jobs at Credit Suisse's Global Investors business which it bought this morning for £250m (€260m) to become the UK's largest listed asset manager.

Martin Gilbert, Aberdeen's chief executive, said: "This is a good deal but we have to deliver the integration. The difficulties with transactions are always the changes in the back office. There will be some job losses, clearly."

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