Swiss Banking News: September 2009

4.09.2009 Credit Suisse Group AG is in negotiations with privately owned Chicago-based trading and investment-advisory firm Mesirow Financial to acquire an investment business Mesirow Advanced Strategies Inc. with $11 billion in assets. If closed, the deal between Credit Suisse and Chicago firm would mark a major transfer of assets between two big players in hedge-fund investment sector.
Credit Suisse is looking for expansion of its alternative investments, including hedge funds, real estate and private equity. Mesirow's hedge-fund unit makes up about one-third of the assets managed by the firm. The funds is engaged in investment banking, insurance and proprietary trade operations, having a strong focus on Asian hedge-fund managers. As, the purchase may be of great importance to it.

29.09.2009 The economists at Credit Suisse have forecast growth of Swiss economy in 2010. They also talked about an average annual inflation of 1% for the coming year.
The forecasts for the export-oriented Swiss economy are becoming better as the global recession begins to fade. According to Credit Suisse economists, the USA and the Eurozone will show signs of positive economic growth during this year. Credit Suisse prognoses that Switzerland will follow the trend and grow by 0.6% in 2010. However, the economists at Credit Suisse anticipate a 2% decline in the real gross domestic product for 2009.
The Swiss export economy did not fall as much as the economy of the US and Germany, for example, thanks to a high share of less cyclical products and to the relative robustness of the domestic market.