ZURICH, Feb 4 (Reuters) - Credit Suisse is pulling
out of its wealth management business in a number of African
countries, and the private clients are to switch to Barclays
, a spokesperson for the Swiss bank said on Friday,
confirming a Bloomberg report.
"Credit Suisse has signed a private banking client referral
agreement with Barclays as part of its plan to exit nine
non-core wealth management markets, primarily in sub-Saharan
Africa," the Swiss bank said in a statement sent to Reuters.
Credit Suisse will remain active in South Africa.
The move comes in the wake of an adjustment to the group's
strategy announced in November 2021.
(Reporting by Oliver Hirt
Writing by Paul Carrel
Editing by Miranda Murray)