The Swiss bank is mulling its options for Investlab, a fund platform it provides to other financial services firms.
«Credit Suisse is in advanced discussions regarding strategic alternatives to support the further development of Credit Suisse InvestLab, although no final decision has been made,» the Zurich-based bank said in a statement on Monday.
The Swiss bank was forced into the statement by a report on «Inside Paradeplatz» (in German). The blog reported earlier on Monday that Credit Suisse private bank head Iqbal Khan is poised to sell the Swiss bank's fund distribution platform, Investlab, without citing where it gleaned the information. It said the unit will go to Allfunds, a similar platform which is owned by private equity house Hellman & Friedman and Singapore's GIC wealth fund.
Last year, Investlab inked a tie-up with Fundinfo, which also works with UBS. Investlab is run by veteran Credit Suisse banker Joerg Grossmann. Last year, the unit's Swiss head, Ueli Spoerri, defected to rival platform Fund Channel.
