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Credit Suisse to outsource procurement services – memo

Mark White by Mark White
January 11, 2022
in Procurement
0

A man enters the Credit Suisse offices in the Manhattan borough of New York City, U.S. July 5, 2016. REUTERS/Brendan McDermid

ZURICH, Jan 11 (Reuters) – Credit Suisse (CSGN.S) is outsourcing its procurement of goods and services to specialist provider Chain IQ to help pare back costs, the bank said in an internal memo on Tuesday.

Roughly half the bank’s procurement staff will be transferred to Chain IQ under the envisioned process, the bank’s head of procurement, Daniel Helmig, said in the memo seen by Reuters, as part of an agreement aiming “to generate significant financial benefits over the coming years”.

A spokesperson confirmed the contents.

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Reporting by Brenna Hughes Neghaiwi, editing by Silke Koltrowitz

Our Standards: The Thomson Reuters Trust Principles.

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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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