Brokerage Business

Credit Suisse seeks sale of China brokerage venture.

Credit Suisse and its joint venture partner are looking for buyers for their China securities brokerage business, Credit Suisse Securities China (CSS), due to UBS's takeover of Credit Suisse. Citigroup had shown interest in acquiring CSS, but decided to grow its business organically. CSS is 51% owned by Credit Suisse and has been loss-making. The potential deal value for the business is unknown.