Malaysia's best private bank 2019: Credit Suisse
Benjamin Cavalli took over as Credit Suisse’s regional private banking head in August 2018; he seems to have hit the ground running. The Swiss private bank reports that net new assets in Malaysia soared 604% in the first quarter of 2019 (but does not provide actual figures).
“We had a very strong first quarter this year compared to last year,” the bank claims. Assets under CS’s management grew at a steady 4% compound annual growth rate over the last three years.
CS attributes its success to its “integrated business model (that) lets us chaperone Asian entrepreneurs early in their business cycle.”
The private bank works closely with CS’s investment banking side, which co-handled, with Maybank, the RM1 billion ($240 million) IPO of local poultry firm Leong Hup, the biggest IPO in Malaysia in two years.
CS describes it as “one of the first IPOs… since Malaysia Regime Change.” The private bank says the IPO was well syndicated through its platform. “The client had access to senior management team from both investment bank and private bank who were closely involved in the deal.”