Credit Suisse is on course to become the first international bank to set up a major trading floor in Dublin.

The Financial Times reports that the bank wants to move 40 traders and 60 support staff to Ireland as part of a cost-cutting drive, sources familiar with the plans said.

That will create one of the biggest trading floors in Dublin, a city which has long attracted support functions of some of the world’s biggest banks.

News of the Dublin plan comes weeks after Credit Suisse’s new chief executive Tidjane Thiam unveiled a wide-ranging plan to restructure the bank, cut costs and raise $6bn. The plan also includes moving up to 1,800 jobs from London to cheaper cost centres.

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Credit Suisse prepares to set up trading floor in Dublin

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