BlackRock not fussed about C Suisse tax evasion case

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BlackRock said Credit Suisse's guilty plea in a U.S. tax evasion case does not affect its business relationship with the bank, the of the asset manager told a Swiss newspaper.CEO

Reuters reports that last month, Credit Suisse pleaded guilty to a U.S. criminal charge and will pay more than $2.5bn in penalties for helping Americans evade taxes.

Asked what consequences the guilty plea would have on BlackRock's business relationship with Credit Suisse, Larry Fink told Swiss newspaper Finanz und Wirtschaft: 'None at all, we'll continue to do business with Credit Suisse'.

The newspaper said BlackRock was Credit Suisse's biggest counterparty, but a spokesman for the bank would not confirm this.

Ending the business relationship would only have been a realistic option if the bank had lost its banking licence in the United States, Fink said in the interview published on Saturday.

To access the complete Reuters article hit the link below:

BlackRock says CS guilty plea has no impact on relationship - paper

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