London: Credit Suisse’s new boss Tidjane Thiam could cut almost 3,000 jobs from its investment bank, or 15 per cent of staff, as part of a shift of capital away from trading desks to private banking in Asia, analysts said.

Thiam could cut 150 billion Swiss francs ($149.34 billion; Dh555 billion) of assets from the bank’s fixed income, commodities and currencies (FICC) business under a plan to focus more on private banking in Asia and less on investment banking, analysts at JPMorgan said.

Thiam could cut the number of staff in the investment bank by 2,900 to about 16,500 to save costs, JPMorgan analyst Kian Abu Hussain said in note to clients on Wednesday. Credit Suisse said on Tuesday Prudential boss Thiam would take over as chief executive after current CEO Brady Dougan leaves in June.