Wealth and Asset Management
UBS picks Chinese state fund over Ken Griffin’s Citadel Securities for Credit Suisse unit
UBS Group has agreed to sell the majority of its stake in Credit Suisse’s China venture to a Beijing-backed fund, dealing a blow to the ambitions of Ken Griffin’s Citadel Securities to expand in the world’s second-largest economy. Under the deal, which values the money-losing business at US$253.4 million, the…
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Click here to read the full story: South China Morning Post