Awards for Distinction 2011 – Indonesia


APB-AFD-BestPrivateBankIndonesia

Credit Suisse

Tee Fong Seng

Tee Fong Seng

Vice Chairman

Market Area Head, Southeast Asia
Credit Suisse

One of the fastest growing economies in Asia, Indonesia is also home to a HNWI population growing at a CAGR of 25% thanks to a strong local currency, double-digit GDP growth and a booming real estate market. As a result, Indonesia is also one of the most promising wealth management markets in Asia. While a number of private banks have focused on servicing the offshore needs of Indonesian clients, an onshore presence, along with the accompanying local experience and expertise, is a distinct advantage and was a key factor of differentiation for the Asian Private Banker – Best Private Bank in Indonesia Award.

Credit Suisse proved to be the runaway winner of this year’s award for a number of reasons. Firstly, in interviews with industry stakeholders during the judging process, Credit Suisse was the unanimous choice for the award among its peers. Credit Suisse enjoys an unrivalled network within the Indonesian HNWI community, an indication of the bank’s success at leveraging its well established investment banking and asset management business in the country. Clients note the high quality of Credit Suisse bankers, their understanding of the unique needs of Indonesia’s HNWIs in addition to a robust platform that offers a complete suite of products.

Tee Fong Seng, vice chairman and market area head Southeast Asia for Credit Suisse Private Banking Asia Pacific is unequivocal about the importance of the Indonesian market to the bank’s regional ambitions. “Indonesia is a top priority for Credit Suisse in Asia. We are growing our presence in Hong Kong and Singapore but Indonesia is still the top market for private banking,” he says.

Tee remains optimistic about Indonesia’s prospects as a burgeoning wealth management market and this resource-rich nation’s ability to weather any global headwinds. He is also committed to maintaining Credit Suisse’s ability to differentiate its Indonesian service offering by means of its cutting-edge product suite, highly-experienced bankers and unrivalled networking platform for the country’s wealthy.