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Exclusive - Credit Suisse plans to move London, Paris trading team to asset management arm

National flags of Switzerland fly over the entrance of the headquarters of Swiss bank Credit Suisse in Zurich July 31, 2014 REUTERS/Arnd Wiegmann

By Nishant Kumar LONDON (Reuters) - Credit Suisse is preparing to move a London and Paris-based trading team out of its investment banking unit and into its asset management arm to raise external capital, sources familiar with the matter said. The team, currently part of the bank's Systematic Market-Making Group (SMG), will be led by the group's Paris-based co-head Pierre-Yves Morlat and manages about $750 million in internal capital, the sources said. A Credit Suisse spokesman declined to comment. Sources declined to be named as the plan was private. (Reporting by Nishant Kumar, additional reporting by Simon Jessop, editing by Louise Heavens)