credit-suisse-invests-in-australian-broker

Credit Suisse invests in Australian broker

Swiss firm picks up a 25% stake in Melbourne-based retail stockbroker EL & C Baillieu.
September 06, 2006
Credit Suisse has bulked up its Australian distribution capabilities, announcing a key investment. The Swiss firm has agreed to purchase a 25% equity stake in EL C Baillieu Stockbroking, which services more than 30,000 active clients and advises on funds in excess of A$4 billion approximately $3.1 billion.

According to Credit Suisse, the strategic alliance is scheduled to commence on October 1 and will significantly boost the bankÆs ability to distribute products in Australia. Under the agreement between the two firms, Baillieu will provide Credit Suisse with access to its retail distribution channels. On the flipside, Credit Suisse will provide the Australian stockbroker with access to its products.

In addition, following the equity stake...
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