Credit Suisse expands operations in Brazil

Credit Suisse has acquired a majority interest in a Brazilian wealth manager, enhancing fund managers...

Credit Suisse has acquired a majority interest in a Brazilian wealth manager, enhancing fund managers research capabilities in the Latin American region. Just over half of Hedging-Griffo, an independent asset management and private banking firm, has been purchased for $364m with the view to acquire the remainder in five years. It will now be preceded by the Credit Suisse tag. Credit Suisse said it will supplement the group’s onshore asset management and private banking business as well as provide global fund managers local knowledge on stocks. There are no plans for a Latin American fu...