Investment Bank First Boston
Saudi crown prince wants to invest 500 million dollars in CS
MBS himself! Saudi Crown Prince Mohammed bin Salman has been eyeing the Credit Suisse investment bank.
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Approaching Credit Suisse with giant strides: Mohammed bin Salman (MBS).
Nicola ImfeldEditor Economics
The Saudi investment was the biggest point of contention in Credit Suisse’s capital increase. In the future, the Saudi National Bank will own almost 10 percent of the large Swiss bank. But that’s not all: According to a report by the Wall Street Journal, the crown prince himself, Mohammed bin Salman (37), is planning another CS investment!
MBS, as bin Salman is also known, plans to invest $500 million in the new investment bank First Boston. As part of the new strategy, Credit Suisse partially spun off its investment bank – and runs it under the historic name First Boston. The crown prince has a history of encouraging Saudi Arabia’s biggest companies to expand globally, raising the country’s profile as a serious investor and diversifying its economy.
In addition to the Saudi crown prince, there are other potential investors mentioned in the media report. Among them: the Atlas Merchant Capital company of former Barclays boss Bob Diamond. Credit Suisse President Axel Lehmann said last week that the bank had received several more commitments from investors for its planned spin-off from investment bank First Boston.
