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

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note