BEST PRIVATE BANK THAILAND INTERNATIONAL
Credit Suisse
BEST PRIVATE BANK – THAILAND INTERNATIONAL
Urs Grueter
Market Group Head Thailand, Private Banking Asia Pacific, Credit Suisse
“Together with our well-established team of relationship managers in Singapore and Hong Kong who are supported by a team of dedicated investment consultants, we are the first bank to successfully connect the Thailand onshore and offshore market. In 2017, we further enhanced and broadened this connectivity through initiatives such as multi-shore collateral financing solutions for Thai entrepreneurs, and internal mobility of talent between the onshore and offshore teams that deepens knowledge and expertise transfer. With this unique onshore-offshore model, our overall Thailand business has generated robust growth in assets and profitability in the past year.
Moreover, with Credit Suisse’s vision as the Trusted Entrepreneurs’ Bank of Asia, we have enhanced client servicing through co-coverage of the top UHNW clients in Thailand by private banking and investment banking senior bankers, systematically growing these key client relationships working in close collaboration with our market-leading domestic investment banking franchise.”
Winners rationale
A long-standing wealth management powerhouse in Southeast Asia, Credit Suisse further cemented its regional commitment in 2016 when it opened a wealth management office in industry hotspot, Bangkok. Since then, the bank has recorded a series of milestones in its Thailand International private banking business, justifying its strategic commitment to the country and its internationally-minded entrepreneurs.
In addition to pure private banking services, Credit Suisse’s integrated banking platform – a game-changer in the region – has enabled its bankers to fully leverage upon the group’s investment banking and asset management prowess to provide Thailand International clients with access to holistic wealth management and investment services, alongside a comprehensive offering of solutions that cater to personal and corporate needs. This cross-divisional approach is vital since 66% of all listed companies in Thailand with a market capitalisation above US$50 million are family-owned businesses.
The development of its digital platform was also of paramount importance for the Swiss giant to bolster brand recognition and, more importantly, deliver value-added service. Credit Suisse marked its first anniversary with the rollout of its digital wealth management platform in Thailand, placing the bank at the forefront of a tech-savvy client segment. Clients receive round-the-clock access to account information, market insights and intelligence relevant to their portfolios, in addition to trading tools that enable them to respond to moving markets across more than 30 bourses around the world.
And providing further evidence of its commitment to growth in the country, Credit Suisse has a team of around 40 covering the Thai market, with two-thirds of the relationship managers being Thai, and an impressive individual overall average private banking experience of over ten years.
Credit Suisse Private Banking’s dedication to the Thailand International segment is paying off. In the new onshore wealth management set up, client accounts increased 700%, while AUM soared 10-fold. Total AUM and top-line momentum have also accelerated, with revenues and asset base posting over 20% CAGR over the past five years.
Maintaining its market dominance, Credit Suisse is Asian Private Banker’s Best Private Bank – Thailand International for 2017.
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