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17 July 2006
Credit Suisse Standard Securities commences trading in South Africa
Credit Suisse and Standard Bank are pleased to announce the launch of Credit Suisse Standard Securities, a new joint venture in equities in South Africa. The business, which will focus on equity research, sales, trading and capital markets, commenced trading today.
Nick Lewis, a senior director from Credit Suisse in London with 10 years' experience in the South African and European equity markets, will be relocating to Johannesburg to become the Chief Executive. Patrick Mathidi, formerly the head of the Andisa securities business, will serve as Deputy Chief Executive. Kennedy Bungane, Executive Committee Director of Corporate and Investment Banking at Standard Bank will become Chairman of Credit Suisse Standard Secutities.
David Munro, Deputy Chief Executive, Corporate and Investment Banking at Standard Bank, said: "We are delighted to be partnering with Credit Suisse in this exciting new venture, which will substantially extend the service that we are able to offer our clients in terms of research and distribution. Nick, Patrick and Kennedy will provide the leadership to ensure that this business provides a strong and differentiated service to our clients both in South Africa and internationally."
Michael Philipp, Chief Executive Officer of Credit Suisse in the Europe, Middle East and Africa region said: "We are very pleased to commence trading today as Credit Suisse Standard Securities. This represents an excellent opportunity to offer our institutional clients access to this important and exciting market."
At the same time, Andisa Securities will be changing its name to Standard Financial Markets. This division comprises Online Share Trading, Equity Advisory Services and Equities Derivatives.
About Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40 000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CSR), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com
In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 26 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.
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