Thursday, 31 July 2014
Last updated 15 hours ago
Mar 8 2010 | 4:10am ET
Credit Suisse is still likely to buy Fortis Bank Nederland’s prime brokerage unit, but a deal could take several more months, the latter said.
“We’re still in exclusive talks and Credit Suisse has started with the due diligence process,” Fortis Bank CEO Jan van Rutte said.
But, he added, “I don’t expect a deal will be reached within two to three months.”
Credit Suisse in December said it was in exclusive negotiations to buy Fortis’ Prime Solutions business, which boasts 600 employees spread across offices in Ireland, Luxembourg, the Isle of Man, Amsterdam, the Cayman Islands, Curacao, Hong Kong, Singapore, Geneva, London, New York, Boston and Tokyo.
Van Rutte did not indicate how much Credit Suisse might pay for the business.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…