Credit Suisse is clearing out its emerging markets team in London, while it says it wants to hire in Russia

As we reported earlier this week, Credit Suisse is making a lot of redundancies elsewhere, but says it wants to hire in Russia.

It's interesting, therefore, that Reuters reports today that Credit Suisse is especially targeting its 'veterans' working in its Central Eastern Europe Middle East and Africa business in London. Are they being cleared out in preparation for Moscow-based hiring?

Reuters reports that Murali Krishna, who runs CEEMEA emerging markets sales, has been identified for redundancy; so have Allok Bhalla, emerging markets deputy head, Anthony Mason, chief risk officer for emerging markets, and Stewart Whitehead, head of EMEA emerging markets flow credit trading.

Reuters adds that Credit Suisse is 75% of the way through the 2,000 redundancies it announced in July - more than we'd thought. Given that headcount in the investment bank increased by 300 people between June and September, this suggests it's also done a lot of hiring recently.