Credit Suisse Teams Up With Fidelity, Brings A Bright Spot To Credit Suisse's 2014 Outlook
- Credit Suisse plans to team up with Fidelity’s retail clients to get their hands on promising IPOs, as well as follow-on share sales, underwritten by Credit Suisse.
- This allows Credit Suisse to distribute shares to the mass market in a way that they could not have done before.
- While the deal might seem unprecedented, a similar situation unfolded five years ago with Fidelity and KKR.
- Given Credit Suisse’s poor performance thus far in 2014, we do not recommend a a buy; however, investors should watch the bank’s post-deal performance for an uptick.