Pick five of this week’s top news stories from the world of finance and technology.
CSI was sold to two private investment firms in a $1.6 billion transaction.

Acquired by CSI for $1.6 billion
US fintech solutions provider Computer Services Inc (CSI) will be acquired by private investment firms Centerbridge and Bridgeport for an all-cash value of $1.6 billion.
CSI provides core processing, digital banking, managed cybersecurity, payment processing and regulatory compliance solutions to financial institutions.
The company’s shareholders will receive $58 per share in cash upon completion of the transaction, which is expected in the fourth quarter of 2022. This represents his 53% gain over CSI’s closing share price on Aug. 19.
The transaction was unanimously approved by CSI’s board of directors and founder John Williams. Williams, who founded CSI 60 years ago, says the deal is of great value to shareholders.
Click here for details
Reserve Bank of India lifts restrictions on American Express onboarding
The Reserve Bank of India (RBI) lifted the business restrictions imposed on American Express last year, allowing the company to resume issuing cards to new customers in the country.
The RBI imposed restrictions on the company in May 2021, refusing to enroll new domestic customers to its card network for non-compliance with the Payment Systems Data Storage Order of April 2018. .
RBI now says the restrictions were lifted immediately, thanks to “satisfactory compliance demonstrated by American Express”.
A spokesperson for American Express said:
Click here for details
Alternative investment fintech iCapital to acquire UBS Fund Advisor
Alternative investment fintech iCapital plans to acquire UBS Fund Advisor for an undisclosed amount.

iCapital Acquires UBS Fund Advisor
The transaction includes UBS’s legacy proprietary alternative investment manager and a UBS-managed feeder fund platform. Known as AlphaKeys Funds, the platform includes private equity, hedge funds and real estate feeder funds with over $7 billion in client assets.
Following the acquisition, which is expected to close in the second half of 2022, iCapital will take over management and operations of the platform, and UBS financial advisors will continue to serve high- and ultra-high-net-worth clients with feeder funds.
Lawrence Calcano, chairman and CEO of iCapital, said the company “has a longstanding global relationship with UBS” and will use its technology to “make it easier to manage direct and feeder funds on a single platform.” and provide tools for advisors. they need to succeed.
Click here for details
Credit Suisse appoints new CFO and Group COO
Swiss banking giant Credit Suisse Group has appointed Dixit Josi as its new Chief Financial Officer (CFO) and Francesca McDonagh as the Group’s Chief Operating Officer (COO).
The bank also appointed Michael J. Longhetti as interim CEO of its wealth management division.
Both Joshi and McDonagh will join the Board of Directors of Credit Suisse and all three will report to the newly appointed Group CEO Ulrich Krner.
McDonagh was previously announced as CEO of the Group’s EMEA region, but Credit Suisse has now appointed Francesco de Ferrari, CEO of Wealth Management, to the role instead.
Click here for details
Malaysia’s Kenanga partners with Ant Group to develop financial services super app
Kenanga, Malaysia’s largest independent investment bank, has turned to China’s Ant Group for its mobile development platform as it aims to launch a wealth management and financial services super app.

Kenanga partners with Ant Group to launch financial services super app
According to Kenanga, Malaysia’s first super app will utilize Ant Group’s Mobile Platform as a Service (mPaaS) and combine stock trading, digital investment management, e-wallet, cryptocurrency trading and currency exchange functionality. .
Datuk Chai Wai Leung, managing director of Kenanga Investment Bank Group, said the company will bring together a wide range of financial services under one roof, while at the same time, “millions of Malaysians across the country We plan to make wealth creation more accessible by democratizing financial services.
After spending a year designing the app, the bank signed a memorandum of understanding (MoU) with Ant Group’s digital technology department to “develop and bring this platform to life,” Datuk Chay added.
Click here for details