In what Credit Suisse refers to as a “strategic step”, the Swiss bank has agreed to sell its exchange-traded funds (ETF) business to BlackRock. The sale of the ETF arm, which manages CHF16 billion (US$17.6 billion), is pending regulatory approval and is expected to be completed by the second quarter of 2013. Details on the terms of the deal were…
Credit Suisse offloads ETFs business to Blackrock
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