Credit Suisse sells its global trust business

ZURICH  – Credit Suisse Group has agreed to sell its global trust business to The Bank of N.T. Butterfield & Son Limited and Gasser Partner Trust, the parties said in a joint statement on Tuesday that gave no financial details.

Under separate agreements, Butterfield will acquire Credit Suisse Trust’s businesses based in Guernsey, Singapore and the Bahamas, while Gasser Partner will acquire CST’s Liechtenstein business, they said. The deals are set to close in the first half of 2023.