Credit Suisse Sells German Banking Unit To ABN Amro

Law360, New York (December 5, 2013, 5:03 PM EST) -- Credit Suisse Group AG on Thursday said it is selling its German banking business to Dutch state-owned ABN Amro Bank NV, as the financial services giant increasingly focuses on services for the ultrarich.

Zurich-based Credit Suisse said the tie-up of its German banking business and ABN’s Bethmann Bank will create the third largest provider of private banking services in Germany.

“ABN Amro is a buyer who is a strategic match and natural home for Credit Suisse’s domestic private banking clients booked in Germany,” Romeo Lacher, head...
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