Credit Suisse is beefing up its equities business in South Africa through a joint venture with Standard Bank. The new business, Credit Suiss...

Credit Suisse is beefing up its equities business in South Africa through a joint venture with Standard Bank. The new business, Credit Suisse Standard Securities, will hold a broker dealer license in the Johannesburg Stock Exchange and will focus on equities research, sales, trading and equity capital market transactions in South Africa. Credit Suisse Standard Securities will be based in Johannesburg and be operational by the end of the second quarter, subject to regulatory approvals. Michael Philipp, chief executive officer of Credit Suisse in the Europe, Middle East and Africa region said: "We are very pleased to launch Credit Suisse Standard Securities which demonstrates our commitment to South Africa. Credit Suisse's leading global emerging market franchise will be further strengthened by our relationship with Standard Bank and provide a platform for further growth in South Africa." Standard Bank is South Africa's largest quoted bank with a market value of approximately around $20 billion.