Credit Suisse Completes Deal To Acquire J O Hambro
Credit Suisse said on
Thursday it had completed its acquisition of the British
investment bank, J O Hambro, strengthening its presence
in the UK market. Credit Suisse announced the proposed
deal last month but gave no information about the
terms. Hambro will retain its
name and operate as an autonomous unit under the umbrella
of Credit Suisse Private Banking. Credit Suisse said
the acquisition would improve its private banking
position in Britain. J O Hambro specialises in providing
personal investment services to wealthy clients. Customers
include private individuals, families and charities,
typically with portfolios over SFr 2.5m Hambro's client assets
of SFr 3.8bn ($2.11bn) will form part of Credit Suisse's
total asset base of of about SFr1.5 trillion making
it the third biggest asset manager behind UBS and
Fidelity. This latest acquisition
comes two months after the Swiss bank won approval
to take over the US investment bank, Donaldson, Lufkin
and Jenrette. .
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.