Credit Suisse looks to sell London properties-FT

LONDON, May 28 (Reuters) - Investment bank Credit Suisse (CSGN.VX) has begun a plan to sell its London property estate and raise up to 500 million pounds ($800 million), the Financial Times reported on Friday.

The bank has instructed CB Richard Ellis to begin marketing the smaller of its two buildings in the London financial district of Canary Wharf, while a tower in the same area could be put up for sale before the end of the year, the paper said.

The move is part of an effort to raise capital from the disposal of noncore assets and follows a similar move initiated by HSBC, which is looking to sell its global headquarters.

Credit Suisse would not confirm the intention to sell, but was quoted in the paper as saying: "Credit Suisse regularly reviews its global property portfolio in order to ensure we are maximising the efficient use of capital and resources. A sale and leaseback of our Canary Wharf buildings in London is one option that we review on a regular basis." (Reporting by Luke Baker; Editing by Steve Orlofsky)