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March 21, 2011updated 04 Apr 2017 3:51pm

Credit Suisse on track to smash APAC NNM target

Credit Suisse is on target to shoot past its 2012 net new money inflow target of CHF35bn ($38.9bn) aiming to pull in CHF45bn in Asia-Pacific. Credit Suisse private banking chief executive officer Walter Berchtold told Bloomberg that Asia-Pacific has a lot of growth in the wealth management sector The Swiss private bank added CHF18.5bn of wealth assets in the region since June 2009, bringing the total to CHF78.5 in 2010, according to media reports

By Eman El-shenawi

Credit Suisse is on target to shoot past its 2012 net new money inflow target of CHF35bn ($38.9bn) aiming to pull in CHF45bn in Asia-Pacific.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • 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.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Credit Suisse private banking chief executive officer Walter Berchtold told Bloomberg that Asia-Pacific has a lot of growth in the wealth management sector.

The Swiss private bank added CHF18.5bn of wealth assets in the region since June 2009, bringing the total to CHF78.5 in 2010, according to media reports.

 

Maintaining annual growth at 20%

Credit Suisse may exceed the net new money target if its Asia-Pacific wealth business continues an annual 20% growth, Berchtold said in the interview.

The private banking division expects to hire an additional 160 relationship managers globally this year, adding to the 4,200 managers logged at the end of 2010. Hiring costs will “most likely” rise this year, Berchtold said.

 

Japan reassurance

Japan’s recent earthquake and tsunami turmoil will not disrupt inflows, Berchtold said.

According to reports, the Swiss bank has put in place assistance measures for its employees as Japan bears the damaging nuclear reverberations of the recent disaster.

Credit Suisse began its domestic private banking business in Japan two years ago and employs about 60 staff in the country, including relationship managers.

 

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • 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.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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