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Credit Suisse weighs £60m Johim sale
by Sarah Miloudi on May 21, 2012 at 07:30
Credit Suisse is considering the sale of JO Hambro Investment Management (Johim), according to reports.
The investment bank is understood to have quietly begun searching for interested bidders, and although the Swiss bank declined to comment, a person close to the situation said that Credit Suisse is thinking about a sale.
It bought the upmarket wealth manager 11 years ago for £100 million, and a sale would be in line with Credit Suisse's recent strategy of streamlining its previously independent banking operations so these run alongside its core internal wealth management business.
According to the Sunday Times, Johim's sale could net Credit Suisse in the region of £60 million.
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