Credit Suisse to Acquire Brazilian Private Banking Business

Stephen Harris

11 December 2006

Credit Suisse is poised to acquire Hedging-Griffo, a Brazilian private banking and brokerage firm, in a deal which could be worth $400 million, according to news agency reports. Hedging-Griffo has over 200 employees and client assets under management of $6.5 billion. Established 25 years ago, it has revenues of about $140 million. Currently, Credit Suisse has no significant private banking presence in Brazil.