tiprankstipranks
Credit Suisse’s investment bank spinoff attracts Saudi Crown Prince, WSJ says
The Fly

Credit Suisse’s investment bank spinoff attracts Saudi Crown Prince, WSJ says

Saudi Arabia’s crown prince and a U.S. private-equity firm run by Barclays’s (BCS) former chief executive are among investors preparing to invest $1 billion or more into Credit Suisse’s (CS) new investment bank, The Wall Street Journal’s Justin Baer, Margot Patrick, and Summer Said report, citing people familiar with the matter. Crown Prince Mohammed bin Salman is considering an investment of around $500 million to back the new unit, CS First Boston, and its CEO-designate, Michael Klein, some of the people said. Additional financial backing could come from U.S. investors including veteran banker Bob Diamond’s Atlas Merchant Capital, people familiar with that potential investment said. Reference Link

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on CS:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles