Monday, February 6, 2023

Saudi crown prince wants to invest 500 million dollars in CS

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Investment bank First Boston

Saudi crown prince wants to invest 500 million dollars in CS

MBS himself! Saudi Crown Prince Mohammed bin Salman has eyed Credit Suisse investment bank.

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Approaching Credit Suisse with big strides: Mohammed bin Salman (MBS).

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Nicholas ImfeldEditor Economics

The Saudi investment was the biggest point of contention in Credit Suisse’s capital increase. In the future, the Saudi National Bank will own almost 10 percent of the major Swiss bank. But that’s not all: According to a report by the Wall Street Journal, the crown prince himself, Mohammed bin Salman (37), is planning another CS investment!

MBS, as bin Salman is also known, plans to invest $500 million in the new investment bank First Boston. As part of the new strategy, Credit Suisse has partially spun off its investment bank – and is running it under the historic name First Boston. The Crown Prince has a history of encouraging Saudi Arabia’s biggest companies to expand globally, raise the country’s profile as a serious investor and diversify its economy.

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