Credit Suisse Group AG is considering a sale of its US asset management business, according to people familiar with the matter.
Globally, Credit Suisse’s asset management business managed 427 billion Swiss francs ($429 billion) of assets aas of the end of the second quarter, according to a company statement.
Credit Suisse’s American depositary receipts rose 3.6% to $4.55 in New York trading Monday, giving the company a market value of about $12 billion. The ADRs have fallen 52% this year, compared with a 24% decline of the KBW Bank Index.
Read more: Reuters
