Friday, December 16, 2011

Credit Agricole sells PE unit

France's second largest bank by assets, Credit Agricole, is selling its private equity unit to Coller Capital for an undisclosed amount. It is expected to reduce its risk-weighted assets by $1.2B ahead of upcoming regulations. 

Additionally as part of its restructuring effort, it recently announced a 2350 job cut in its investment banking and consumer finance units. 

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