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Credit Suisse Weighs Sale of LatAm Wealth Business Ex-Brazil

Sept. 22, 2022, 12:23 PM

Credit Suisse Group AG is weighing the sale of its Latin American wealth management operations excluding Brazil as part of a broad review of which businesses it wants to keep after a planned restructuring.

The Zurich-based bank, with wealth operations in countries such as Mexico and Colombia, is in contact with potential buyers including Spain’s Banco Santander SA and Italy’s Intesa Sanpaolo SpA, according to people with knowledge of the matter. No final decisions have been taken and a sale isn’t guaranteed.

Credit Suisse is in the midst of electing which businesses to cut, exit or keep globally ...