Francesco de Ferrari, Credit Suisse
Across the spectrum of financial services, private banks are unique in the direct relationship between the calibre of the bank’s talent and its ability to meet fiduciary duties as well as client needs. Against this backdrop, the quest for Asian Private Banker’s Private Banker of the Year assumes particular import. It is a quest that leads unfailingly to exceptional men and women – the best of the best – who have earned the respect of their peers, the trust of their clients and the loyalty of those whom they lead.
It has also led to candid yet comprehensive conversations with private bankers, product providers, veteran bankers, and clients. In 2015, these conversations lead invariably to talk of Francesco de Ferrari’s stewardship of the Asian private banking franchise of Credit Suisse. In particular, the constancy of his strategy and its considered implementation have earned Credit Suisse’s Asia Pacific private banking head the unequivocal admiration of the industry.
Having won the award for Best Private Bank – Asia twice since de Ferrari took the helm, Credit Suisse has consistently demonstrated best-in-class productivity and efficiency ratios. Outstanding performance on these quantitative metrics is augmented by delivering across a number of qualitative measures.
It is perhaps indicative of his singular focus on clients, that de Ferrari ranks client satisfaction as the most important of these metrics. Some 4,000 questionnaires sent out to clients showed that overall client satisfaction in Hong Kong and Singapore has risen from 90% in 2012 to 95% in 2014. Client satisfaction in Australia, where the bank runs a no-conflict advisory fee model, is at 100%; in Japan, where the bank acquired HSBC’s onshore private banking business, client satisfaction is at 95% three years after the purchase.
Poignant as client and industry recognition is, de Ferrari’s effectiveness stems in large part from his credence with Credit Suisse’s most senior leaders. Their decision to widen his responsibilities in 2015, to encompass the entire franchise in South Asia – not only the private bank – is testimony to this.
In equal measure a strategist and a banker, but always a leader, Francesco de Ferrari is the deserving winner of the Private Banker of the Year Award 2015.