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Credit Suisse seeking private banking deals-paper
June 9, 2012 / 1:11 PM / 5 years ago

Credit Suisse seeking private banking deals-paper

ZURICH, June 9 (Reuters) - Credit Suisse continues to seek private banking acquisitions such as its purchase of Brazilian asset manager Hedging Griffo, the unit’s head Hans-Ulrich Meister was quoted as saying on Saturday.

Credit Suisse’s private bank gives priority to international deals, such as its December purchase of HSBC’s private bank in Japan for an undisclosed sum, Meister told Swiss weekly Finanz und Wirtschaft.

Swiss deals could be more problematic because of the issue of market dominance, he said.

Credit Suisse was among the suitors that put in initial bids for the non-U.S. wealth management business of Bank of America, sources told Reuters last month. Credit Suisse has otherwise been relatively quiet on the private banking deal front. (Reporting by Katharina Bart; Editing by Ruth Pitchford)

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