A Wells Fargo & Co. spokeswoman denied that the lender was in discussions with Credit Suisse Group AG to buy a major portion of the Swiss firm’s investment-banking and capital-markets businesses.
“There’s no truth to this rumor,” Elise Wilkinson, a spokeswoman for San Francisco-based Wells Fargo, said in a phone interview.
Hedge Fund Alert reported earlier Wednesday that the chief executive officers of the two firms had held talks about a deal that may involve Credit Suisse’s U.S. and European equities and fixed-income businesses, including its prime brokerage. The newsletter didn’t cite the source of its information.
A representative of Zurich-based Credit Suisse declined to comment on the report.