Friday, 22 August 2014
Last updated 9 hours ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note