Harris Associates, the largest shareholder of troubled Swiss lender Credit Suisse, has disclosed the size of its stake in the bank.
Harris Associates owns 266 million shares in Credit Suisse as of end-July, according to a filing with the Securities and Exchange Commission, or a 10.1 percent stake in the Swiss bank. The Chicago-based investment manager previously held around 5.2 percent, according to Credit Suisse’s website.
Harris Associates partner David Herro has been relatively vocal in the public about developments at Credit Suisse which is undergoing its second strategic review in less than a year under new chief executive Ulrich Koerner. While Herro has previously stated that he has «patience» for the bank as long as there is progress, he also said that he would support a takeover if the right suitor were to come along and make an offer «at the right price» during the height of the rumors of a State Street acquisition.
At around 5 percent, sovereign investor Qatar Holdings is the bank’s second largest shareholder, as of November 17.
