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Credit Suisse in bid to expand

CREDIT Suisse is buying the fund services business of Fortis Bank Nederland for an undisclosed sum, the companies said yesterday, as the nationalised Dutch bank continues restructuring.

The acquisition of Prime Fund Solutions (PFS), which provides fund services to the alternative asset management industry and has 570 employees, would have a minimal impact on capital, a Credit Suisse spokesman said.

The sides first acknowledged in December that they were in exclusive talks.