While there is no quick solution to this problem, one private bank, in particular, has spent the time, resources, and effort necessary in building an experienced and mature generation of wealth management leaders.
Credit Suisse has emerged as the private bank that has had the patience, responsibility, and expertise to build a truly world-class training and development programme. An onboarding system provides new hires with a comprehensive platform of classroom and web-based training, in addition to frontline training certified by the Singaporean Institute of Banking & Finance. As part of a global certification programme, over 500 relationship managers (RMs), assistant RMs, and other client-facing individuals across the region have received mandatory training from their very first day in the office. The figures speak for themselves as, this year, Credit Suisse counted 1,355 classroom courses attended by 19,779 participants across the bank, in 13,707 classroom-delivered training days.
In 2014, Credit Suisse raised the bar even higher, opening the Credit Suisse Wealth Institute in Singapore. The 9,000 square foot hub comprises of four main training rooms, a conference hall, a theatre, as well as a suite of meeting rooms. By September, the facility, which is used by both staff and clients, had hosted more than 3,000 participants at various training and development programmes since it opened in February.
Credit Suisse’s avowed intention is to attract the best talent, and the proposition it offers to any ambitious potential hire, in terms of personal development, mentoring, quality tutelage, and facilities places the bank far ahead of the pack. In the very best traditions of a private bank, investing time and skill into the long-term improvement of quality assets best describes the Swiss bank’s attitude towards staff development. It is for these reasons, and its expanding commitment to the process of training, such a crucial factor in the running of private banks in Asia, that Credit Suisse is the emphatic winner of Best Private Bank – Training & Development in 2014.