Credit Suisse: Mohammed bin Salman could invest in CS First Boston

(AOF) – Saudi Arabia’s Crown Prince Mohammed bin Salman and a US private equity firm, Atlas Merchant Capital, led by former Barclays chief executive Bob Diamond, are among the investors preparing to invest $1 billion or more in new investment bank Credit Suisse, people familiar with the matter told The Wall Street Journal.

Crown Prince Mohammed bin Salman is considering an investment of around $500 million to support the new unit, CS First Boston, and its designated CEO, Michael Klein, some of those interviewed said.

When presenting its new strategy at the end of October, Credit Suisse indicated that its capital markets and investment banking advisory activities will be combined, after a transition period, under the CS First Boston banner. Independent, the future CS First Boston plans to attract third-party capital and will have a privileged long-term partnership with Credit Suisse.

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