Credit Suisse, Morgan Stanley China JVs ready and waiting
10 December 2007
Credit Suisse and Morgan Stanley have both reached investment-banking joint venture deals with Chinese partners, but are still waiting for Beijing to make good on its promise to lift an official moratorium on new tie-ups with foreign securities firms by the end of the year, the Wall Street Journal reported. Credit Suisse has partnered with Beijing-based Founder Group, while Morgan Stanley has joined with China Fortune. The latter is a proposed deal that, if approved, could give Morgan Stanley a controlling stake.