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(AFX UK Focus) 2009-11-26 10:48
Credit Suisse triples stake in wealth firm-sources
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By Chris Vellacott

LONDON, Nov 26 (Reuters) - Credit Suisse has more than tripled its stake in a Swiss wealth management firm, buying shares from a Qatari consortium that includes the state's ruling family, sources familiar with the deal said.
Credit Suisse has hiked its stake in Helvetica Wealth Management Partners to 35 percent from about 10 percent previously, the sources said.
The stake held by the Qatari investors has fallen to below 30 percent from under 50 percent, one source said.
Financial details were not made available.
Credit Suisse declined to comment.
The remaining shares are held by the company's management, which includes chairman and founding partner Sir Charles Masefield, a former president of BAE Systems, the source said.

Helvetica's other founding partners are chief executive Oliver Hare, a former managing director in the equities division of UBS, and chief operating officer Hermann Schwalm, a former chief executive of Morgan Stanley's Swiss arm, according to information on Helvetica's company website.
Credit Suisse and the Qatari ruling family were founding investors in the venture which has $3.1 billion in assets under management for government agencies, institutions and wealthy families, the source said.
Helvetica is understood to view the greater involvement of Credit Suisse as a means to enhance its product offering and strengthen its international reach, the source said.

(Reporting by Chris Vellacott; Editing by David Cowell)

(For the Hedge Hub blog: http://blogs.reuters.com/hedgehub) (For Global Investing: http://blogs.reuters.com/globalinvesting) ((chris.vellacott@thomsonreuters.com; +44 (0) 20 7542 3987; Reuters Messaging chris.vellacott.thomsonreuters.com@reuters.net) s

Keywords: CREDIT SUISSE/HELVETICA

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