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Fidelity® and Credit Suisse Sign Agreement to Offer Investors and Advisors Greater Access to IPOsBOSTON & NEW YORK --(Business Wire)-- Fidelity Investments® and Credit Suisse Securities (USA) LLC today announced an agreement that provides Fidelity's brokerage clients the opportunity to participate in initial public offerings (IPOs) and follow-on equity offerings underwritten by Credit Suisse. The agreement expands Credit Suisse's potential investor base to Fidelity's millions of retail brokerage customers, as well as investors who work with advisors through Fidelity's registered investment advisor (RIA), correspondent broker/dealer and family office clients. "With the increase in IPO activity over the past year and the potential for growth in the IPO market over the next few years, this new agreement with one of the industry's leading underwriters will provide our clients with more opportunities to participate in new issue equity deals," said Brian Conroy, president of Fidelity Capital Markets, Fidelity's institutional trading arm. "The agreement with Credit Suisse, which ranks No. 2 in market share for U.S. listed IPOs, is a continuation of our focus on leveraging our scale to offer our clients broader access to the IPO market, typically only accessible for larger institutional investors." A 2013 Fidelity survey of 2,500 affluent and high-net-worth clients indicated that they had significant interest in IPOs. More than 50 percent of those surveyed currently buy or are open to investing in IPOs. "This agreement will benefit Credit Suisse's corporate clients by giving them direct access to Fidelity's vast investor base, allowing issuers to capture demand for IPOs and follow-ons from the broadest possible segment of the market," said David Hermer, head of Equity Capital Markets in the Americas region for Credit Suisse. "The arrangement complements our industry-leading institutional equities platform and our world-class private bank. As a top-ranked underwriter of IPOs in the U.S. and globally, with the lead role on many of the most prominent transactions, we're delighted to partner with the investment industry's leading retail brokerage." The agreement with Credit Suisse builds on Fidelity's established relationship with Kohlberg Kravis Roberts & Co., and broader focus on providing Fidelity customers with greater access to the IPO and new issue equity market. Notes to Editors
Source for Credit Suisse statistics: Dealogic 1H 2014 figures About Fidelity Investments At Fidelity, our goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. We do this by focusing on a diverse set of customers: from 23 million people investing their own life savings, to 20,000 businesses needing help managing their employee benefit programs to 10,000 advisors and brokers needing technology solutions to invest their own clients' money. Privately held and with 41,000 employees around the world, Fidelity is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products. As of June 30, 2014, the company held assets under administration of $4.9 trillion, including managed assets of $2.0 trillion. It is one of the largest mutual fund companies in the United States and the No. 1 provider of both workplace savings plans and Individual Retirement Accounts (IRAs). For more information about Fidelity Investments, visit www.fidelity.com. About Credit Suisse AG Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 45,600 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com. Credit Suisse Securities (USA) LLC is a subsidiary of Credit Suisse AG. Fidelity Investments is an independent company, unaffiliated with Credit Suisse. The information and opinions expressed by Credit Suisse in no way represent the advice, opinions or recommendations of Fidelity Investments or any of its affiliates. The information contained herein is general in nature, is provided for informational purposes only and is not legal advice. Fidelity Investments does not provide advice of any kind. Third party marks are the property of their respective owners; all other marks are the property of FMR LLC. Fidelity Institutional Wealth Services provides brokerage products and services and is a division of Fidelity Brokerage Services LLC. National Financial is a division of National Financial Services LLC through which clearing, custody and other brokerage services may be provided. Both members NYSE, SIPC. 200 Seaport Boulevard Boston, MA 02210 Fidelity Investments Institutional Services Company, Inc., 500 Salem Street, Smithfield, RI 02917 693678.1.0 © 2014 FMR LLC. All rights reserved.
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