Credit Suisse May Close CMBS Division

Law360, New York (October 17, 2011, 7:46 PM EDT) -- Credit Suisse Group AG is reportedly planning to shutter its commercial mortgage-backed securities operation and lay off dozens of commercial real estate employees, and may also be considering downsizing other departments.

The executive in charge of all securitized products, Albert Sohn, called a meeting at the bank's New York headquarters Wednesday of 50 employees, including some new hires, telling them their jobs may be on the line and they should not make any more loans, according to the Wall Street Journal on Monday.

Sohn told the...
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