Group AG is nearing a deal to sell its securitized-products group to heavyweight investors
and Pacific Investment Management Co. as part of a retreat from Wall Street, people familiar with the matter said.
The Swiss bank is set to give details of the sale, and other measures for a planned strategy change, on Thursday. The securitized-products group underwrites financing and packages up mortgage bonds and other securities for resale. It generated high returns but Credit Suisse executives said in July it wasn’t a good fit with its envisioned future shape.
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