Credit Suisse pursues brokerage JV
11 January 2008
China's Founder Group will form a securities underwriting and wealth management joint venture with Credit Suisse, AFP reported. Credit Suisse plans to hold a 33.3% stake in the firm, the maximum allowed under current regulations. The venture will concentrate on sponsoring and underwriting A-shares, foreign investment shares, and government and corporate bonds. Earlier this week, Morgan Stanley said it would sell its stake in China International Capital Corp. to pursue a similar joint venture with Shanghai-based China Fortune Securities.