Best international private bank in Thailand 2021
It has been quite a baptism by fire for Edwin Tan, who took over as head of wealth management for Thailand at Credit Suisse in February 2020. Pandemic-related dislocations meant Credit Suisse Private Banking had to take steps to calm panicky clients.
Tan and Marcus Slöör, market group head for the Philippines, Thailand and Vietnam, seem to have had an easier time than their international rivals. As 2021 unfolds, Credit Suisse’s 25 years in Thailand are paying big dividends. The same goes for the five years since the global colossus established a presence in Thailand’s onshore wealth management scene.
The bank has since come to count more than 80% of the local Forbes 50 list as either active or soon-to-be clients. Part of that success relates to Credit Suisse’s integrated banking model, enabling management to handle a range of financial services.
Being one of the few institutions with a sizeable onshore and offshore presence enabled Credit Suisse’s offshore clients with money at stake in Thailand to leverage the bank’s onshore offices during the Covid-19 lockdown. Being among the first movers on going digital with thematic investment and linking expert global speakers with local clients is also paying off.