Perspectives on 2014: David Tait, Credit Suisse

Cutting costs and aligning overheads more closely with revenue has become a necessity for most banks since the financial crisis, and Credit Suisse is no exception, having restructured parts of its fixed-income business twice in recent years and parted company with a fair number of staff.

As businesses become more expensive to run, particularly as a result of regulation, costs inevitably have to come down, says David Tait, co-head of the newly formed global macro products group at Credit Suisse