Swiss perspectives in 10 languages

Credit Suisse to take controlling stake in its Chinese joint venture

A bank window panel in Beijing
A bank window panel in Beijing displaying the security markers on the latest 100 Yuan notes in February Keystone

Swiss bank Credit Suisse has agreed with Founder Securities to increase its shareholding to a majority stake in its Beijing-based Credit Suisse Founder Securities (CSFS) joint venture. 

As a result of the agreement, Credit Suisse’s shareholding is expected to increase from 33.3% to 51% by way of capital injection. The shareholding of Founder Securities in CSFS will reduce to 49%. 

The completion of this transaction remains subject to regulatory approvals. 

Last December, Switzerland’s largest bank, UBS, became the first foreign bank to hold a majority stake in a China securities joint venture. UBS, which owned 24.99% of the UBS Securities Co joint venture, had applied in May 2018 to the China Securities Regulatory Commission to raise its stake to 51%.

Established in 2008 and headquartered in Beijing, CSFS focuses on providing a range of capital markets services to clients in the domestic China market, including sponsoring and underwriting A-sharesExternal link, foreign investment shares and government and corporate bonds as well as providing financial advisory services. 

Credit Suisse also has an asset management joint venture – ICBC Credit Suisse Asset Management – which is among the largest in China, with total assets under management of nearly RMB1.3 trillion (CHF194 billion, $194 billion) as of the end of December 2018. 


More


Popular Stories

Most Discussed

News

No Swiss bank in phase with environmental objectives

More

Swiss banks failing environment, says WWF

This content was published on None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.

Read more: Swiss banks failing environment, says WWF
UNRWA provides emergency assistance to just over one million Palestine refugees, or about 75 per cent of all Palestine refugees in Gaza, who lack the financial means to cover their basic food.

More

Lazzarini: no alternative to UNRWA in Gaza

This content was published on The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.

Read more: Lazzarini: no alternative to UNRWA in Gaza

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here . Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR