BlackRock [profile] has confirmed in a statement that it will buy Credit Suisse's ETF unit.

This sale was reported by Bloomberg, Reuters and Financial Times.

Joe Linhares, iShares Europe and Middle East chief, said "the transaction significantly extends to BlackRock's footprint in Switzerland, which is home to one of the deepest investor bases in Europe."

Martin Keller, Credit Suisse's core investments distribution head said the company "will remain a large investor of ETFs through our private banking and wealth management division and will partner closely with BlackRock tobroaden the ETF product offering for our clients." 

Edited by: HFD


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