A Leader Emerges In Race For Credit Suisse Asset Management Business

Stephen Harris

15 December 2008

Aberdeen Asset Management is now favoured over rival Schroders to acquire Credit Suisse's Global Investors division in a share-based deal, according to a Financial Times report.

The division, which is up for sale after a strategic review earlier this year, has around Sfr255 billion in long only equity and bond funds. According to the report, the unit could be valued at around £1 billion, which it says would be ploughed back into the Swiss bank's wealth management division.

Aberdeen, which the report says was not the preferred bidder, currently has about £110 billion in assets under management. A successful bid for the Credit Suisse business would make the group the UK’s largest listed fund manager.