Thursday, 31 July 2014
Last updated 1 hour ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…