Credit Suisse To Buy Fortis Prime Brokerage

May 10 2010 | 12:29pm ET

After five months of exclusive negotiations, Credit Suisse Group has finally struck a deal to buy Fortis Bank Nederland’s prime brokerage unit.

Terms of the deal were not disclosed. The acquisition is expected to close by the end of the year, Credit Suisse and Fortis said today.

Fortis has been selling off assets since it was nationalized a year-and-a-half ago. It is set to merge with the also-nationalized ABM Amro by the end of the year.

Credit Suisse said it purchase of the Prime Fund Solutions business would have minimal impact on its capital.

Fortis’ PFS employs 570 people across 13 offices around the world.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.