Crown Prince Mohammed bin Salman is considering an investment of around $500 million to back the new unit, CS First Boston, and its CEO-designate, Michael Klein, some of the people said. Additional financial backing could come from U.S. investors including veteran banker Bob Diamond ‘s Atlas Merchant Capital, people familiar with that potential investment said. Credit Suisse previously said it had $500 million committed from an additional investor it hasn’t named.
Credit Suisse is spinning off the New York-based investment bank as part of a fresh start after being buffeted by scandals, regulatory scrutiny and steep losses. Itthat separately will make Saudi National Bank its largest shareholder. It isn’t clear if Prince Mohammed would make the investment through that bank, or another investment vehicle.
Mr. Klein is to lead the new firm after a career as one of the world’s most sought after deal makers for companies and investors. As a Credit Suisse board member since 2018, he led a review of the investment bank’s strategy over the summer, then got tapped by the bank’s other board members to run the spinoff.
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Saudi Arabia's murderer satrap you mean?
ایران آخرین اخبار, ایران سرفصلها
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