Credit Suisse expands in Britain
Credit Suisse's private banking division is in talks to acquire Britain's JO Hambro Investment Management.
Credit Suisse said the deal would further strengthen Credit Suisse Private Banking’s (CSPB) global position in private banking.
Both JO Hambro and Credit Suisse have agreed not to reveal the purchase price.
JO Hambro will retain its name and current location and operate as an autonomous unit under the umbrella of CSPB.
JO Hambro is a British investment manager for wealthy individuals, and has client assets under management of around £1.5 billion (SFr4 billion).
Oswald J Grubel, chief executive of CSPB said: “I am very pleased that JO Hambro has elected to join forces with us. They are a first-class team, and I am confident that they will find us a most supportive parent for the ambitious further growth they are pursuing.”
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