Credit Suisse Deal For Fortis Prime Brokerage Delayed

Nov 22 2010 | 9:30am ET

Credit Suisse will have to wait a little longer to get its hands on Fortis Bank Nederland's prime brokerage unit.

The sale of Prime Fund Solutions, which was agreed to in May, had been expected to close by the end of this year. But now the deal will not be finalized until the first quarter, according to ABN Amro, which is merging with the nationalized Fortis.

"The transfer of clients has proven more complex than previously estimated," Jan van Rutte, ABN Amro's chief financial officer said. "But the deal will go through."

Terms of that deal have not been disclosed. PFS has some 600 employees in 13 offices around the world.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR