Credit Suisse will pay W54 billion $57.32 million for a 30% stake in the asset management subsidiary of Woori Financial Group, which is KoreaÆs third largest financial services group, the two partners said in a joint release.
Woori Financial Group also operates the countryÆs second largest network of retail and brokerage outlets, which makes it an attractive partner for a global asset management firm looking to boost its presence in this market.
The two banks already have a well-established relationship in other...
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