Credit Suisse is promoting veteran Swiss investment banker Thomas Gottstein to head up its ultra-rich clients business in Switzerland, highlighting the expertise increasingly sought by private banks to cater to their wealthiest customers.
Europe
Co-op Bank wins retail investor approval for rescue
Retail bondholders of Britain's Co-operative Bank have voted in favor of a restructuring to rescue the bank and proceed with its plan to fill a 1.5-billion-pound hole in its capital.
Amazon Germany says more worried about snow than strikes
Amazon.com Inc has no intention of bowing to pressure from striking workers in Germany and is more worried about bad weather hurting Christmas deliveries, its country head said.
Finland's Outokumpu announces rights issue, divests assets
Finnish stainless steel maker Outokumpu said it planned to raise 650 million euros ($885 million) through a rights issue and divest assets back to ThyssenKrupp as it looks shore up its finances.
Italy state lender eyes 3 bln euros from grid assets sale -sources
Italian state lender Cassa Depositi e Prestiti (CDP) expects to cash in around 3 billion euros ($4.1 billion) by June 2014 from the sale of minority stakes in gas and power grid networks, two sources with knowledge of the matter said on Friday.
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U.S. hedge fund Cerberus has bought a 1 billion euro ($1.4 billion) book of commercial real estate loans from Lloyds Banking Group at a 21 percent discount to their nominal value, the UK bank said on Friday.
Atrium Innovations Inc said a group of investors, including European private equity firm Permira funds, would buy the dietary supplements maker for about C$751.2 million.
In an article on Reuters, two unidentified sources were cited saying that ThyssenKrupp is set to divest its US steel plant and expects to obtain around USD1.5 billion from its asset sale.
New music-focused messaging app for the iPhone PingTune was able to raise GBP1 million or USD1.6 million from seed investors Rupert Hambro of JO Hambro and serial entrepreneur Dominic Perks.
A statement by investment firm Vasari said its chairman, Vivian Imerman, has shown interest in acquiring Whyte & Mackay should Diageo chose to divest them in order to comply with competition concerns.
Bloomberg obtained information from two sources who were aware of the plans by the Basel Committee on Banking Supervision to sign drafts regarding capital requirements on banks worldwide who holds securitizations.
Westports Holdings Bhd founder and Chairman G. Gnanalingam said his company is looking to partner with strategic investors to expand the capacity of Port Klang in Malaysia.
UK-based advertising firm M&C Saatchi divested a controlling stake of 75.1% in Walker Media for GBP36 million. M&C Saatchi sold its holding to French multinational advertising and public relations company Publicis.
US-based aviation investment firm Cloud Investment Partners is mulling over a possible takeover of Lufthansa Technik's aircraft maintenance facility in Ireland. Lufthansa Technik Airmotive Ireland is a target of a possible shutdown.
