THOUSANDS of job cuts, business closures and billions of euros of capital raising are all on the cards as the new bosses of three of Europes biggest banks respond to pressure to devise new strategies to revive them.
Credit Suisse chief executive Tidjane Thiam, Deutsche Banks John Cryan and Standard Chartereds Bill Winters are putting the final touches to their plans, which Mr Thiam and Mr Cryan will unveil next month and Mr Winters is expected to deliver in early December.
All have been in charge about 100 days -- a period when new chief executives typically formulate strategy after meeting investors, regulators, politicians, customers and staff. Big job cuts loom in a bid to cut costs and improve profitability --their main target.
Mr Cryan is to cut 23,000 staff, or about a quarter of headcount, mostly from disposals, financial sources told Reuters earlier this month.