Credit Suisse is making plans to possibly shut down the origination side of its commercial mortgage-backed securities business, according to a person familiar with the situation.
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The company will continue secondary trading but is finding CMBS origination may not fit in with its long-term strategy, this person said, confirming press reports.
According to The Wall Street Journal, about 50 people have been told their positions could be eliminated if the CMBS origination unit is shuttered.
A spokesman for Credit Suisse declined to comment.
