Credit Suisse’s structured products team has capitalised on the reputation it built last year, by enhancing its product offering in an uncertain market and providing consistent pricings across a wide spectrum of underlyings, making it a clear winner for the second consecutive year.
Patricia Lau, head of equity derivative sales, Hong Kong and Singapore at Credit Suisse, stressed that the team’s strength lies in the competitiveness of its pricings, the breadth of underlyings it can trade and the robustness of its infrastructure, underlined by strong client partnerships. Commenting on pricings in particular, Lau said “pricing needs to be competitive, but also consistent. Clients value banks that can provide good pricings on a consistent basis at a fast turnaround time.” This tactic has paid off; while last year Lau highlighted Credit Suisse’s offering of the smallest notional deal size in the market as a factor of its success, this year clients have been asking for the maximum deal size rather than the other way round, which was frequently the case in 2013. “The reputation we have built up has served us very well, and we are benefitting now that the market has turned,” adds Lau.
Knowing that it will be not able to rest on its laurels, Credit Suisse is continuously expanding its offering, and building up its reputation in the small cap space. “We want to be known as the top bank for providing small cap names,” Lau continues. Credit Suisse has built a highly experienced team and will continue to strive to increase its dominance in the market. Added to this, having noticed that while there is still a lot of demand for the more familiar products such as accumulators and decumulators, there is a growing trend towards more complex products, the team’s offering has changed accordingly. Lau highlights the flexibility of the Credit Suisse email pricer and the ease with which it can be updated and changed to reflect the updated product offering.
Credit Suisse’s compact team and consistent pricings has enabled it to garner a reputation for expertise in the Asia equity flow market. Strong relationships between the private bank and the investment bank, as well as an eye on keeping ahead of the game have seen the Swiss bank emerge as a clear winner for the second year running of Asian Private Banker’s award for Best Provider of Asia-linked Equity Structured Products.