Credit Suisse’s Top Shareholder Cuts Stake Amid Turmoil
- Qatar Investment Authority now holds 4.8% in Swiss bank
- SEC filing triggered by stake falling below 5% threshold
Photographer: Giuseppe Cacace/AFP/Getty Images
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The Qatar Investment Authority cut its stake in Credit Suisse Group AG to below 5%, deepening the turmoil surrounding the firm after a pair of scandals this year left it the worst-performing major bank stock in Europe.
The Gulf nation sovereign wealth fund has a holding of 4.8% in Credit Suisse, or about 128 million shares, according to a filing with the Securities and Exchange Commission on Wednesday. The QIA had previously held about 133 million shares, making it the Swiss bank’s biggest shareholder, according to Bloomberg data.