The biggest point of contention for Credit Suisse’s capital increase has been Saudi investment. In the future, the Saudi National Bank will own almost 10 percent of the large Swiss bank. But that’s not all: according to a report from the Wall Street Journal, crown prince Mohammed bin Salman, 37, is planning another CS investment!
MBS, also known as Bin Salman, plans to invest $500 million in new investment bank First Boston. As part of the new strategy, Credit Suisse has partially phased out the investment bank and runs it under the historic First Boston name. The Crown Prince has a history of encouraging Saudi Arabia’s largest companies to expand globally, raising the country’s profile as a serious investor and diversifying its economy.
In addition to the Saudi crown prince, there are other potential investors mentioned in the press. Among them: Atlas Merchant Capital company of former Barclays boss Bob Diamond. Credit Suisse President Axel Lehmann said last week that the bank has received several more commitments from investors for the planned spin-off of investment bank First Boston.
Nicholas Imfeld
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
