ZURICH: Credit Suisse said yesterday it had taken a majority stake in its joint venture Saudi Swiss Securities, to be renamed Credit Suisse Saudi Arabia, and will offer a full range of services to Saudi clients.
The bank said in a statement Saudi Arabia had granted the renamed business a commencement letter for all activities authorised by the capital market authority.
Bassam Yammine, currently co-chief executive of Credit Suisse in the Middle East, will take over as CEO of Credit Suisse Saudi Arabia, succeeding Sabah al-Binali. - Reuters
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