Credit Suisse has accelerated its “radical” restructure by agreeing to sell a significant part of its securitised products group (SPG) and other related financing businesses to Apollo Global Management.
This is an “important step” towards the firm’s exit from the SPG. This is expected to de-risk the investment bank and release capital to invest in the Swiss bank’s core businesses – including wealth management.
As part of the transaction, Apollo wil...
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