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Credit Suisse Completes Investment Platform Merger
The deal improves Credit Suisse's market penetration for its products in regions including Asia.
Credit Suisse
has completed its transfer of the Credit Suisse InvestLab to
Allfunds Group, the wealth technology firm, as
announced in late June this year.
Credit Suisse InvestLab, as the platform is called, is now
combined with Allfunds, building a global fund distribution
platform with a total of SFr570 billion ($585.9 billion) of
assets under administration. It gives the Swiss bank the kind of
market penetration that might otherwise have taken years and high
resources to build. With Allfunds recently moving into the Asian
market, the deal also gives Credit Suisse an important new
channel to that region.
The subsequent transfer of the related distribution agreements by
Credit Suisse is expected to be completed in the first three
months of 2020, Credit Suisse said in a statement late last
week.
Credit Suisse International acted as the financial advisor to
Credit Suisse in connection with the transaction.
