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Investment banking test confronts Credit Suisse

Date: 23 Nov 2009

The Swiss bank has traditionally been a force in south-east Asia but in the past year it has made an investment banking push into China. Its challenge is to translate its success in the country across the rest of the region.

Keywords (click to search): [Credit Suisse] [investment banking] [Ming Tan] [Yuanta] [Zhang Liping] [Vikram Malhotra] [Simon Yuan] [Janice Hu] [Wu Chunlei]

Aaron Pan

Many investment banks would consider the past 12 months best forgotten. But Credit Suisse is one of the few that is likely to disagree.

The Zurich-based bank has traditionally been viewed as a bit boutique in Asian investment banking. It boasts specific geographical areas of strength, such as a strong franchise in south-east Asia, while its coverage of regional financial institutions and technology is also respected.

But historically the bank has lacked the regional depth of competitors such as Morgan Stanley, Goldman Sachs and UBS, enabling them to dismiss it as a serious contender.

Staff numbers play a role. According to industry estimates, Credit Suisse has about 170 employees in its Asia ex-Japan investment banking division, 30 less than direct rivals such as UBS or Goldman Sachs.

Credit Suisse’s overall staff levels are reasonably lean. It is believed to employ 8,000 in the region, well below the 14,000 said to...

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