Credit Suisse invests in Australian broker

Swiss firm picks up a 25% stake in Melbourne-based retail stockbroker EL & C Baillieu.

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...

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