People Moves
Singapore-Based Bankers Reportedly Depart Credit Suisse

The trio covered the Pakistan market. Credit Suisse declined to comment on the specifics. It did, however, point to its strategy of headcount reduction in certain areas of the business worldwide.
Credit Suisse
has declined to comment on a press report that three
Pakistan-focused bankers have left the Swiss lender. The trio are
based in Singapore, according to their public profiles.
A report by finews.asia stated that executive director
Rai-Rummaan Kharal – the team head, director Haroon Tufail
and vice president Shahid Qazi have left the firm. They covered
the Pakistan market.
Asked about the report, Credit Suisse, which has been in the
midst of a major restructuring to rebuild group profitability
after a series of losses and mishaps, declined to comment about
the individuals.
Credit Suisse has been shrinking headcount. The bank, so it told
this news service in a statement, expects to operate with about
43,000 full-time equivalent staff by the end of 2025, compared
with about 52,000 such persons at the end of the third quarter of
this year. The cuts will come from natural attrition and targeted
reductions.
In general, a headcount reduction of 2,700 full-time-equivalent
employees, or 5 per cent of the group’s workforce, is already
underway.
“Asia-Pacific represents exciting opportunities and remains a key
pillar of growth for the bank globally. We have a leading wealth
management business with one of the most successful localised
franchises in the region. We remain fully committed to the region
with a differentiated value proposition. The decisive actions
announced to transform the bank will strengthen our franchise in
the region with a laser focus on serving our clients,” the
statement said.
Kharal has worked at Credit Suisse since 2015; prior to this, he
worked at Deutsche Bank, according to his Linkedin profile. He
was at Deutsche for more than 18 years.
Tufail also joined Credit Suisse from Deutsche Bank in 2015,
having been at Deutsche for more than seven years. Qazi joined in
2016 from Emirates NBD.