BEST PRIVATE BANK – EXTERNAL ASSET MANAGERS’ CHOICE
In 2016, Asia’s independent or external asset management (EAM) industry continued along its growth trajectory, with almost half of Hong Kong and Singapore-based firms posting a 20% YoY increase in client assets (as of late-November 2016), according to Asian Private Banker data. This puts the industry on track to meet some lofty projections: Hong Kong’s Association of Independent Asset Managers expects EAMs to account for 30% of client assets under management in the city within the next 5-10 years, while a recent industry report states that Asia’s EAMs could manage as much as US$56 billion by 2020.
Unlike other award categories, the winner of the Best Private Bank – External Asset Managers’ Choice category is decided by popular vote. And in 2016, EAMs in Hong Kong and Singapore selected Credit Suisse as their private bank of choice, citing its servicing capabilities, investment solutions and expertise as key differentiating factors. Indeed, a consistent theme throughout all feedback was Credit Suisse’s ability to cater to the entire spectrum of an EAM’s increasingly complex set of needs.
“Based on my experience over the past decade, Credit Suisse has the best EAM platform for a number of reasons,” said the founder and managing partner of a prominent set-up in Singapore, who singled out the bank’s 24-hour Customer Care Centre and the extensive knowledge of Credit Suisse staff as core strengths. Similarly, the founder of a Hong Kong-based EAM, who said that “the choice is simple”, praised Credit Suisse for its pricing and institutional-like investment solutions, backed by a team of expert of advisors.
“We thank the external asset management industry in Asia for its vote of confidence in Credit Suisse as the Best Private Bank for EAMs,” says Sascha Zehnter, head external asset manager Asia Pacific platform, private Banking Asia Pacific, Credit Suisse.
“Our EAM desk offers a dedicated team of relationship managers and investment advisors backed by a comprehensive IT platform, access to open architecture and a full range of investment banking and wealth management solutions, choice of geographical booking locations, and a strong brand name, among others. In the coming years, we will continue to focus our investments in the key areas of differentiation that will further advance our market position.”
Credit Suisse is Asian Private Banker’s Best Private Bank – External Asset Managers’ Choice for 2016.