Activist investor RBR Capital Advisors wants to expand its stake in Credit Suisse £769.8m, as the hedge fund pushes to spin off the firm’s investment bank and asset management business.
Reuters reports that RBR has so far invested almost half its £192.5m in assets to buy roughly 0.2% of Credit Suisse, which it believes would be worth twice as much if the bank focused solely on wealth management and its Swiss business.
RBR Chief Executive Rudolf Bohli is trying to drum up fresh cash to take a larger position in Credit Suisse.
The boutique Swiss hedge fund went public this week with its campaign to split up Credit Suisse into three parts: an investment bank, an asset management group and a wealth manager accommodating its Swiss retail and corporate banking operations.
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