BlackRock and State Street eye Credit Suisse's $17bn ETF arm

Credit Suisse is selling its $17.2bn European ETF business, with BlackRock and State Street among the firms that have bid for the business, according to reports.

Credit Suisse's decision to sell its ETF business is part of a drive by the firm to raise capital to meet new regulatory requirements. The first round of bids for the business was due in early October, Reuters reports. BlackRock, reportedly one of the bidders, is the largest ETF provider in Europe, owning more than 40% of the market. It has 192 European iShares ETFs with $126 billion in assets. State Street's 41 SPDR ETFs in Europe have $3bn in assets, making up 1% of the European market. Credit Suisse is the fourth-largest ETF provider in Europe, with just over 5% of the market...