Credit Suisse’s Top Shareholder Harris Discloses 10% Stake
- CIO David Herro says ‘no major changes’ to ownership
- Harris Associates has stuck with the holding despite losses
The Credit Suisse Group headquarters in Zurich, Switzerland.
Photographer: Pascal Mora/BloombergThis article is for subscribers only.
Harris Associates disclosed a stake in Credit Suisse Group AG of more than 10% after converting some of its holdings into American depositary receipts, underscoring its place as the bank’s biggest shareholder.
The investment firm owned 266 million shares, or 10.1% of the total, as of July 31, Harris Associates said in a US regulatory filing on Wednesday. The Swiss bank’s annual reports have long listed the firm with a 5.2% stake, which was the level it disclosed in 2013.