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Marcel Kreis eyes 20% growth in net new assets

Date: 02 Mar 2010

The head of Credit Suisse’s Asia-Pacific private banking business says he wants to grow regional net new assets up to 20% per annum over the next three years. He has faith in the region, but also in the bank’s Swiss home market.

Keywords (click to search): [Marcel Kreis] [Credit Suisse] [private banking]

Leigh Powell
Credit Suisse is seeking to expand its Asia-Pacific private banking asset base by up to 20% per annum over the next three years, building on a sterling performance in 2009.

Speaking exclusively to asiamoney.com, regional private banking head Marcel Kreis said the Swiss institution wanted to take advantage of Asia’s economic expansion to build up its presence.

“We expect to continue our growth [in Asia] between 15% and 20% on an annual basis over the next three years, which will mean we will bring in between SFr25 billion (US$23 billion) and SFr35 billion in net new assets,” he said. “I am confident we will do that here [in Asia].”

The bank’s Asia-Pacific private banking business enjoyed a strong 2009, receiving SFr3.8 billion in net new assets...

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