Credit Suisse Stops Some Japan Bond Underwriting
- Profit was said to be too low due to small number of deals
- Stopping sales of RMBS, regional debt, govt-backed notes
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Credit Suisse Group AG has stopped underwriting certain types of bonds in Japan, a business that offered only limited profits for the Swiss bank given the low number of deals it handled, according to a person familiar with the matter.
The operations have had minimal staffing in the past few years, and have worked with the assistance of the investment banking group, said the person, who asked not be identified because the matter is private.