Saudi Crown Prince, Other Investors Plan To Invest In Credit Suisse's New Investment Bank : Report

(RTTNews) - Saudi Arabia's crown prince and a U.S. private-equity firm run by Barclays Plc's (BARC.L, BCS) former chief executive Officer are among investors preparing to invest $1 billion or more into Credit Suisse's (CS) new investment bank, the Wall Street Journal reported citing people familiar with the matter.

Crown Prince Mohammed bin Salman is considering an investment of about $500 million to back the new unit, CS First Boston, and its CEO-designate, Michael Klein, the Journal reported.

Additional financial backing could come from U.S. investors including former Barclays chief Bob Diamond's Atlas Merchant Capital, the report said.

Credit Suisse is spinning off the New York-based investment bank.