Credit Suisse has taken another step towards helping create a CHF 570 billion funds distribution platform, as it closes the transfer of its InvestLab business to Allfunds.

The first stage of the merger, announced in June, has now been completed with the transfer of the B2B platform Credit Suisse InvestLab, its related employees and service agreements to Allfunds.

Credit Suisse will become a minority shareholder of up to 18 percent in the joint venture with representation on the board, and will use the combined business platform to distribute mutual funds and ETFs.

The combined business will create a global fun...