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Credit Suisse, China's Founder in securities JV

Wed Jan 9, 2008 9:35pm EST

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HONG KONG, Jan 10 (Reuters) - Swiss investment bank Credit Suisse (CSGN.VX) said on Thursday it plans to form a mainland China securities joint venture with the Founder Group, hoping to become the latest foreign bank to participate in the country's booming domestic securities business.

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Credit Suisse said it will apply with regulators to establish the joint venture with Founder Securities, which is backed by Beijing University. It also said it will explore with Founder a strategic alliance in domestic institutional brokerage and wealth management, when permitted under Chinese rules.

The bank said that it would own one-third of the joint venture, which would underwrite domestic A share and bond issues. (Reporting by Tony Munroe; Editing by Anne Marie Roantree)

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