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Credit Suisse Is Said to Lose Lead Role on Olam Food London IPO

  • Move comes after Swiss bank declined to join firm’s loan group
  • Credit Suisse tightening risk management after recent missteps
Inside Olam Cocoa Factory As Asia’s Chocolate Bonanza Sparks Quest for Locally Grown Beans
Photographer: Wei Leng Tay/Bloomberg

Credit Suisse AG has dropped from the roster of lead banks on an Olam International Ltd. unit’s planned London initial public offering after turning down a loan request, people with knowledge of the matter said.

The Swiss bank was set for a top role in Olam Food Ingredients’ London IPO as recently as August, alongside banks including Citigroup Inc. and JPMorgan Chase & Co., said the people, who asked not to be identified as the information is private.