Friday, 9th January 2009

 

14 November 2008 - Press Briefing

Credit Suisse in discussions over asset management joint venture

Credit Suisse is in discussions over a possible joint venture for its traditional asset management operations following the latest in a series of strategic reviews of the division, according to a report in the Financial Times.

The Swiss bank’s asset management franchise has concluded that Global Investors, one of its three sub-divisions with SFr255bn (€168.5bn) under management in traditional long-only funds, is sub-scale and would better serve customers as part of a larger unit.

The bank is in talks with at least one potential partner who could plug gaps in its range of vehicles and help Credit Suisse cut costs, the FT report said.

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