Leading global investment banks, including Credit Suisse AG (CSGN.VX: Quote), are cutting research staff in the Middle East to save costs amid tough global conditions and a dearth of work in the region.
Japan's largest investment bank Nomura (8604.T: Quote) has shut down its research department, a person with knowledge of the matter said.
Deutsche Bank (DBKGn.DE: Quote) and Credit Suisse have cut their top equity research jobs for the Middle East and North Africa (MENA) region, four sources said.
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