Credit Suisse Close To Deal For Fortis Prime Brokerage

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.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of