Crédit Agricole to build in bonds but exit equity derivs, commodities

Distribution and serving major clients in a climate of increasing disintermediation is the focus of the new strategy at Crédit Agricole’s corporate and investment bank, announced on Thursday. The changes, presented by the bank as an "adjustment plan", will result in the loss of 1,750 jobs, about 13% of the division. Some 550 of the job losses will be in France.