Credit Suisse is prime takeover target

Monday, 6 March 2023 06:30

The Swiss bank Credit Suisse is being seen as a takeover candidate after revelations that one of its longest serving shareholders has deserted the bank.

The Financial Times this morning reports the Chicago based investment find, Harris Associates, has sold all its shares. It used to be one of the bank's leading cheerleaders.

The fund’s Chief Investment Officer, David Herro, told the paper that he believes the future of the bank is questionable and it could be taken over.

The bank’s main shareholders are now the Saudi National Bank with 10% and the Qatar Investment Authority with 7%.

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