Credit Suisse has named Min Huang as the head of its asset management business in the Asia Pacific, Reuters reported citing an internal memo sent to employees.
Analyze opportunies within the wealth management market in APAC
- The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
- The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
- The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
- The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
- The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
Huang was appointed as the Swiss bank’s interim head for APAC asset management in November last year.
Having joined Credit Suisse in 2006, Huang has served in several key positions across the bank’s investment bank and asset management divisions.
She was serving as the head of the bank’s asset management unit in China since 2014 and was responsible for establishing its China onshore footprint.
In her new role, Huang will continue to work under Credit Suisse Asset Management CEO Ulrich Körner.
She will be part of the bank’s asset management and APAC management committees, according to the memo.
Recent developments at Credit Suisse
Last week, a report by Bloomberg News said that Credit Suisse is setting up a global financing group to oversee lending to wealthy clients across multiple sectors and regions as part of its effort to streamline risk management and collaboration across the bank.
Last month, Reuters reported that the bank is seeking to strengthen its capital base after a series of losses exhausted its financial buffers.
The same month, Credit Suisse said it froze around $10.63bn of client assets in Q1 2022 after Russia was hit by sanctions by the US and its allies over its military attack on Ukraine.
Credit Suisse posted a net loss of CHF273m for the first quarter of 2022, driven primarily by legal expenses and the fallout from the Russia-Ukraine war.
Analyze opportunies within the wealth management market in APAC
- The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
- The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
- The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
- The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
- The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.