A deal has met with complete success. Recently, Beijing State-owned Assets Management Co., Ltd. (“BSAM”) has acquired 85.01% stake in Credit Suisse Securities (China) Limited (“Credit Suisse Securities”), which has been officially approved by China Securities Regulatory Commission (CSRC).
This deal includes the acquisition of 36.01% stake in Credit Suisse Securities held by United Bank of Switzerland AG (UBS) and 49% stake held by Founder Securities. Upon completion of this deal, BSAM will become major shareholder and actual controller of Credit Suisse Securities.
According to the announcement issued by Founder Securities on March 12, 2025, Credit Suisse Securities received Official Reply on Approval for Change in Major Shareholder and Actual Controller of Credit Suisse Securities (China) Limited from CSRC. This official reply approves BSAM to become major shareholder and actual controller of Credit Suisse Securities, without any objection to the legitimate transfer of 85.01% stake from Credit Suisse Securities.
Established in 2008, Credit Suisse Securities is a joint venture securities company. Since June 2020, Credit Suisse Group AG had held 51% stake in Credit Suisse Securities. In June 2023, Credit Suisse Group AG was merged into UBS. After this deal, UBS will hold 14.99% stake in Credit Suisse Securities.
As a municipal-level state-owned investment holding group with business size of RMB 100 billion in Beijing City, BSAM has been specialized in four core business lines, namely, Financial Services; Environmental Protection and Park Operation; Information Service and Digital Industry; Culture and Sports. In particular, financial services business encompasses banking, securities, funds, property rights transactions, non-performing asset disposal, guarantee, re-guarantee, etc.
According to BSAM, it has maintained a close partnership with UBS for nearly two decades. This acquisition of stake in Credit Suisse Securities represents a further extension of such partnership and aligns with the municipal and national requirements for financial services in support of the real economy. Moving forward, BSAM will leverage its strategic advantages in financial sector, prop up operation and development of Credit Suisse Securities and contribute to high-quality development of Beijing financial industry.
UBS, one of the world-class wealth managers, is headquartered in Zurich, Switzerland, with a presence in over 50 markets globally. Following the acquisition of Credit Suisse Group AG, investment assets under management of UBS totaled USD 6.1 trillion in the fourth quarter of 2024.
According to Iqbal Khan, President of UBS Asia-Pacific and Co-President of Global Wealth Management, “Asia Pacific remains central to UBS’s strategic objectives, and China is a key market in this regard. This deal further optimizes strategic landscape of our platform in the Chinese Mainland. We have collaborated with BSAM for two decades. We really look forward to continuing this partnership in future.”
