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    QONEQT in Credit Suisse Group

    18-Oct-2022 10:10 AM


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    Credit Suisse places U.S. asset management arm for sale

    A clock is seen near the logo of Swiss bank Credit Suisse at the Paradeplatz square in Zurich, Switzerland October 5, 2022.
    The source added there was no guarantee of a sale and Credit Suisse could ultimately retain the business.
    The report added that private equity firms will be likely bidders.

    Earlier in the day, Reuters reported citing a source that Credit Suisse has approached at least one Middle Eastern sovereign wealth fund for a capital injection, while some funds are looking at the scandal-hit Swiss bank's businesses as potential investment opportunities.

    The website did not break out assets under management for the U.S. business.
    Both Wells Fargo (NYSE: ) & Co and Bank of Montreal exited such businesses in 2021.
    Source: Investing.com
    #CreditSuisse