Zurich Financial Services has revealed plans to restructure its Zurich Capital Markets Inc (ZCM) unit.
In a bid to concentrate on ZCM's core strengths of asset management and client servicing Zurich will cut its investment in noncore businesses.
As part of its restructuring, ZCM will cut parts of its structured finance business and operations in Sydney. The cuts will be conducted over the coming several months.
David Wasserman, ZCM's chief executive said: "ZCM has built a business creating innovative products for its clients. The restructuring of ZCM is in line with the Group's strategy to concentrate on core markets and core products in targeted regions."
