Switzerland's second-largest lender indicated the cost cuts will drive its operating cost base below CHF 18bn by 2018, adding it aimed to achieve CHF 1.7bn in cost savings in the current year. In February, the Zurich-based bank said it had already pushed through approximately 4,000 job cuts to accelerate the cost-cutting strategy outlined by chief executive Tidjane Thiam, who took over at Credit Suisse ‎from British insurer Prudential in July 2015.