September 5, 2017 / 4:52 PM / 3 months ago

Credit Suisse chairman wants change to allow more big bank deals

ZURICH (Reuters) - Credit Suisse (CSGN.S) Chairman Urs Rohner on Tuesday called on regulators to make it easier to do large cross-border mergers and acquisitions in European banking.

Chairman of the Board of Directors of Swiss bank Credit Suisse Urs Rohner gestures as he takes part in a panel discussion during the Swiss International Finance Forum in Bern, Switzerland June 20, 2017. REUTERS/Arnd Wiegmann/Files

Rohner, who earlier in his career worked as a mergers and acquisitions lawyer, said many banks now balk at large deals due to the risks of them being rejected by authorities.

“You need so many authorisations to complete an international transaction -- that’s why nobody does them,” Rohner told a mergers conference at the University of Zurich.

“I would like to see conditions in Europe modified so that you can do border-crossing deals,” he said, while adding he is uncertain if regulators have the appetite to make such changes.

Reporting by Oliver Hirt; writing by John Miller; editing by Alexander Smith

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