Credit Suisse opens shop in Pakistan

The Swiss bank appoints Farid Ahmed Khan to head its equity research and sales platform, which the bank plans to grow into a full broker-dealer operation.

Credit Suisse launched operations in Pakistan through a wholly-owned subsidiary based in Karachi on July 10. Initially, Credit Suisse Pakistan will offer equity research and research sales to institutional clients, but aims to expand its operations to include full broking-dealing services.

Credit Suisse expects to start full broker-dealer operations in the first half of 2009 and have around 20 people on the ground by then. The firm does not currently have a Karachi stock exchange membership but hopes to have...

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