Winners rationale

As independent asset managers make strides in growing their share of wallet in Asia, currently accounting for almost US$92 billion in assets under management1, Credit Suisse has likewise made significant headway in ramping up its intermediaries offering, capturing a large piece of the pie — and vote — of the burgeoning IAM segment by providing powerful digital tools, extensive ‘one bank’ capabilities, and impeccable know-how.

Tools introduced specifically for intermediaries last year include digital KYC/AML modules that aim to lighten the increased regulatory burden on the IAM industry, a library of investment ideas that fully integrate into IAMs’ workflows, and online trading facilities that allow IAMs to directly execute equity, ETF, and FX trades.

One founder of a prominent IAM setup in Singapore highlighted that through such solutions, Credit Suisse has managed to find peerless balance for its IAM business. “They are not afraid of pioneering strict compliance on client onboarding processes but are pragmatic enough to retain practicality as well as continue to educate their RMs and EAMs alike on how to get familiar with their systems,” the founder complimented.

Meanwhile, other IAM executives identified Credit Suisse’s highly dependable cross-divisional services as a key point of strength. In one instance last year, Credit Suisse’s IAM desk closely collaborated with its investment bank to structure a competitively priced loan facility that allowed a client to execute its short-dated investment strategy. The client has since utilised the facility multiple times, with the elegance and speed of the solution cited as reasons for repeated usage.

Another IAM leveraged the joint-synergies between Credit Suisse’s investment and private banks to fundraise for its fund of hedge funds. While the investment bank helped to execute trades, the IAM desk provided capital introduction and distribution services through the private banking platform. The collaboration resulted in very healthy inflows, helping to grow the fund by a sizeable amount.

Of course, even without the support of the investment bank, Credit Suisse’s IAM department is more than capable of holding its own. Last year it helped an UHNW multi-family office looking to sub-delegate third-party asset managers to structure a bespoke legal framework. In entrusting Credit Suisse, the MFO benefitted from a more efficient onboarding process and a streamlined reporting system through using the IAM team as a single point of contact.

By delivering innovative services and highly sophisticated solutions, Credit Suisse has won the trust of the region’s IAMs — and its positive top-line performance shows.

Credit Suisse is Asian Private Banker’s Best Private Bank – Intermediary Services for 2018.

1. Source: Asian Private Banker 2018 IAM Report: Asia-Pacific Ready for Take-Off?