According to a document from the state wealth fund, the Qatar Investment Authority has increased its stake in Credit Suisse Group AG from about 5.6 percent to 6.87 percent. With the acquisition, the Qatar Investment Authority became the second largest shareholder in the Swiss bank, quickly after the Saudi National Bank.
Earlier this month, it acquired 3 percent of Harris Associates, Credit Suisse’s longtime largest shareholder, which once held about 10 percent. under had been reported. The Saudi National Bank, which is the main shareholder of Credit Suisse, is at the top of the list with its current share of approximately 10 percent.
The Qatar Investment Authority participated in Credit Suisse’s nearly $2 billion convertible bond issuance in April 2021.
The Swiss bank, which plans to transform its capital markets, advisory and leveraged finance businesses into a boutique unit under the Credit Suisse First Boston brand, is undergoing a strategic overhaul that includes more closely integrating its remaining trading businesses with its asset management business.