(Reuters) - Credit Suisse CSGN.VX is mulling a plan to spin off part of its fixed income business in the United States in order to help trim costs, according to a report in the Financial Times.
The Swiss bank is considering selling a stake in its subsidiary Wake USA - an electronic market for U.S. government bonds that it started with a high-speed trading group Tower Research - the FT said, citing unnamed sources familiar with the bank’s thinking.
A Credit Suisse spokesman did not immediately respond to a request seeking comment.
The report said regulatory pressures and a sharp fall in fixed income trading revenues besetting banks have prompted Credit Suisse to consider the move.
Reporting by Jennifer Saba in New York; Editing by Sophie Hares