June 25, 2019 / 5:21 AM / 3 months ago

Credit Suisse combines platform InvestLab with Spain's Allfunds Group

ZURICH, June 25 (Reuters) - Swiss bank Credit Suisse said on Tuesday it is combining its open-architecture business-to-business investment fund platform, called Credit Suisse InvestLab, with the Spain-based funds solutions provider Allfunds Group.

Credit Suisse will take an 18 percent stake in the combined businesses. The Zurich-based bank said the transaction will have a limited regulatory capital benefit and is expected to result in a 0.5% return on tangible equity increase for the financial year 2019. (Reporting by John Miller Editing by Tassilo Hummel)

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