The Doha-based joint venture will focus on Middle East and North African investments and may expand its operations into other emerging markets, the news agency said, citing three unnamed sources familiar with the matter.
A spokeswoman for Credit Suisse declined to comment. However, negotiations between the Zurich-based investment bank and Qatar have been ongoing for 12 months with the joint venture set to be launched next year, according to two of Bloomberg’s sources.
Credit Suisse announced in November last year that it was planning to expand its product offerings in Qatar in 2012 by providing asset-management services to local and international investors, once it had secured regulatory approvals.
Some staff are also reported to have moved from Credit Suisse’s operations in Dubai to Doha.
Credit Suisse has advised QIA on several deals including the purchase of the luxury department store Harrods.
