Calyon restructure cuts risk profile
Calyon will centre its business on structured finance, equities including brokerage and equity derivatives, and fixed income following the implementation of a restructuring plan explained at a briefing in Paris on September 10. The announcement included details of the bank's new strategy for 2008-10.
The plan, which includes the loss of 250 jobs in France and a further 250 cuts worldwide, incorporates a 70% reduction in the bank's risk profile, a 50% decrease in its exotic activities and a shift
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