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ZURICH (Reuters) – Credit score Suisse (SIX:) is pulling out of its wealth administration enterprise in plenty of African international locations, and the non-public purchasers are to change to Barclays (LON:), a spokesperson for the Swiss financial institution mentioned on Friday, confirming a Bloomberg report.
“Credit score Suisse has signed a personal banking consumer referral settlement with Barclays as a part of its plan to exit 9 non-core wealth administration markets, primarily in sub-Saharan Africa,” the Swiss financial institution mentioned in an announcement despatched to Reuters.
Credit score Suisse will stay lively in South Africa.
The transfer comes within the wake of an adjustment to the group’s technique introduced in November 2021.
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