Insurance Day
Axa fills warchest with US bank sale to Swiss
By Claire Wilkinson, New York
French giant Axa yesterday bolstered its warchest for future acquisitions in the US when it announced the sale of its 71%
stake in leading US investment bank Donaldson, Lufkin & Jenrette (DLJ) to Zurich-based Credit Suisse Group for some $11.5bn
in cash and shares.