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Credit Suisse takes majority stake in China JV, appoints chairperson

Credit Suisse has become a majority shareholder of its China securities joint venture Credit Suisse Founder Securities Limited (CSFS), and has appointed a veteran of the bank as the new chairperson. The bank announced yesterday that its capital injection has diluted the shareholding of Founder Securities from 66.7% to 49%. The move follows the regulatory permission given in April by…

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