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November 26, 2010updated 04 Apr 2017 3:52pm

Credit Suisse’s new money inflow worth $7.3bn

Credit Suisse recorded CHF7.3bn ($7.3bn) of net new money inflows into its Swiss wealth management business in the nine months to the end of September. The wealth management segment made up 60% of Credit Suisses total net income in Switzerland for the nine months to September, equivalent to CHF3.8bn.

By PBI Editorial

Credit Suisse recorded CHF7.3bn ($7.3bn) of net new money inflows into its Swiss wealth management business in the nine months to the end of September.

Hans-Ulrich Meister, chief executive of Credit Suisse’s Swiss business, said in a presentation that its wealth management business made up 60% of total net income in Switzerland for the nine months to September, equivalent to CHF3.8bn.

The investment banking segment accounted for 11% of the net income in the first nine months of fiscal 2010.

The Zurich-based bank has more than 20,000 staff providing services for about 2m private clients and 100,000 institutional clients. It has 1.3m private clients with assets of up to CHF1m.

The bank said that as part of its strategy to provide better customer service, it will invest in educating more staff in advisory services.

 

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