Credit Suisse sees huge business opportunities in Thailand. Therefore the Swiss bank has launched a wealth management set up with a dedicated client relationship coverage team in Bangkok.
Credit Suisse marks the launch of its wealth management set up in Thailand on Wednesday with a gala dinner at the Mandarin Oriental Bangkok to be attended by more than 150 clients and guests, with Rapee Sucharitakul, Secretary-General, the Office of the Securities and Exchange Commission of Thailand and Kesara Manchusree, President, the Stock Exchange of Thailand gracing the event as the Guests of Honor.
According to a press release sent on Wednesday, Credit Suisse has established a client relationship coverage team in Thailand through its securities entity Credit Suisse Securities (Thailand) operating out of Bangkok covering clients across the nation, and offering access to a comprehensive international investment and wealth management platform via its regional Private Banking hub in Singapore.
Abundant Experience
Credit Suisse’s new wealth management set up in Thailand offers wealthy individuals and families a platform that is unique in the industry, targeting two key client segments: high-net-worth individuals (HNWI) with more than $2 million in assets under management, and ultra-high-net-worth individuals (UHNWI) with $50 million in assets under management or $250 million in net wealth, who are mostly first or second generation entrepreneurs with family-owned businesses.
The Swiss bank has established an initial local team of Investment Planners who have extensive experience in international investment and wealth management with both local and global financial institutions, supported and complemented by more than 200 solutions and products specialists in its regional Private Banking hub in Singapore. «With their abundant experience and expertise in international investments, our client coverage team is in a strong position to support Thai investors in pursuing global investment opportunities,» added Christian Senn, Private Banking Market Group Head Thailand (pictured above).
Within this quarter Credit Suisse will have a team of six client coverage Investment Planners. They will sit within the existing Credit Suisse Securities Thailand entity, a spokeswoman said to finews.asia. They are all Thai nationals with international wealth management experience in other hubs such as Hong Kong and Singapore.
A Milestone For Credit Suisse
«Expanding our business in Thailand is a milestone in Credit Suisse’s growth strategy in Asia Pacific, where the bank has committed significant investments and capital to expand its businesses and footprint. Our vision is to be the Trusted Entrepreneurs Bank in Asia Pacific, and a key destination for talent,» said Helman Sitohang, Credit Suisse Chief Executive Officer Asia Pacific (pictured above).
Credit Suisse has been operating in Thailand for 16 years. «Since 2000, Credit Suisse has been operating a full-service securities brokerage with a dedicated on-the-ground investment banking team and a highly experienced research team. The establishment of a new wealth management team in the country marks the ongoing commitment to the Thai market.
More Opportunities
«With the sizeable and growing pool of UHNW entrepreneurs in Thailand, the continued expansion of the domestic and regional financial markets will open up further opportunities for business growth and investor flows for entrepreneurs and corporates. Credit Suisse is uniquely positioned in Thailand to leverage its differentiated integrated platform,» according to Francesco de Ferrari, Credit Suisse’s Head of Private Banking Asia Pacific (pictured above).
