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Credit Suisse sets up wealth management team in Thailand with comprehensive international investment platform

Credit Suisse marks the launch of its wealth management set up in Thailand today with a gala dinner at the Mandarin Oriental Bangkok to be attended by more than 150 clients and guests, with Mr. Rapee Sucharitakul, Secretary-General, the Office of the Securities and Exchange Commission of Thailand and Mrs. Kesara Manchusree, President, the Stock Exchange of Thailand gracing the event as the Guests of Honor.

Credit Suisse has established a client relationship coverage team in Thailand through its securities entity Credit Suisse Securities (Thailand) Limited operating out of Bangkok covering clients across the nation, and offering access to a comprehensive international investment and wealth management platform via its regional Private Banking hub in Singapore. 

Credit Suisse’s new wealth management set up in Thailand offers wealthy individuals and families a platform that is unique in the industry, targeting two key client segments: high-net-worth individuals (HNWI) with more than USD 2 million (THB 70 million) in assets under management (AUM), and ultra-high-net-worth individuals (UHNW) with USD 50 million (THB 1.8 billion) in AUM or USD 250 million (THB 9 billion) in net wealth, who are mostly first or second generation entrepreneurs with family-owned businesses. These clients are increasingly demanding a more sophisticated approach in terms of structured asset allocation and access to a truly global platform with a comprehensive range of financial and investment solutions across geographies and asset classes.

Credit Suisse has established an initial local team of Investment Planners who have extensive experience in international investment and wealth management with both local and global financial institutions, supported and complemented by more than 200 solutions and products specialists in its regional Private Banking hub in Singapore. They offer the full range of capabilities on an open architecture basis, ranging from products and investment solutions including funds and exchange-traded funds, equities, fixed income and foreign exchange supported by investment strategy and research, as well as structured products, portfolio modelling tools and wealth planning solutions including family office services and philanthropy advisory.

Mr. Helman Sitohang, Credit Suisse Chief Executive Officer Asia Pacific, said, “Expanding our business in Thailand is an important milestone in Credit Suisse’s growth strategy in Asia Pacific, where the bank has committed significant investments and capital to expand its businesses and footprint. Our focus is on being a partner to our high-net-worth individual, entrepreneur and institutional clients and supporting them in their growth ambitions. Our vision is to be the Trusted Entrepreneurs Bank in Asia Pacific, and a key destination for talent.” 

As a major global bank with a 160-year history, Credit Suisse’s vision is to be a leading private bank and wealth manager combined with strong investment banking capabilities. In Asia, the bank focuses particularly on entrepreneur clients who have sophisticated financial needs spanning their personal and family wealth as well as their businesses.

Focusing on high-net-worth individuals and ultra-high-net-worth entrepreneurs

Thailand has a sizeable high-net-worth wealth pool that is comparable to other major regional economies such as South Korea or Singapore. According to a 2015 Asia Pacific Wealth Report 1, there are around 91,000 high-net- worth individuals in Thailand with more than USD 1 million (THB 35 million) in investable assets, owning total USD 456 billion (THB 16 trillion) of investable wealth. According to the Credit Suisse Global Wealth Report 2015, there are also an estimated 340 ultra-high-net-worth individuals with more than USD 50 million (THB 1.8 billion) in net wealth. Moreover, the Credit Suisse’s Asian Family Business Report (2011) finds that 66% of all listed companies in Thailand with market capitalization above USD 50 million are family-owned businesses, representing almost half of total market capitalization in the country.

Credit Suisse is a leading global wealth manager with USD 688 billion (THB 24 trillion) in assets under management (AUM) and 3,340 relationship managers globally, including over USD150 billion (THB 5.4 trillion) in AUM and 630 relationship managers across Asia in its Singapore and Hong Kong hubs as well as in its domestic businesses in Australia, India and Japan.

Mr. Francesco de Ferrari, Credit Suisse’s Head of Private Banking Asia Pacific, added, “With the sizeable and growing pool of UHNW entrepreneurs in Thailand, the continued expansion of the domestic and regional financial markets will open up further opportunities for business growth and investor flows for entrepreneurs and corporates. Credit Suisse is uniquely positioned in Thailand to leverage its highly differentiated integrated global platform of Private Banking, Investment Banking and Asset Management as well as a structured approach to client advisory, to deliver international investment and wealth management solutions and services to Thai HNWIs and UHNWIs for both their personal and family wealth and corporate financial needs.”

“As the regulatory policy towards overseas capital flows continue to evolve and Thai clients are increasingly looking to diversify their domestic wealth through global investments, the establishment of wealth management coverage in the country with access to international solutions and capabilities marks Credit Suisse’s continued strong commitment to offer the best services and solutions to our Thai clients. With their abundant experience and expertise in international investments, the Credit Suisse client coverage team is in a strong position to support Thai investors in pursuing global investment opportunities,” added Christian Senn, Private Banking Market Group Head Thailand.

Credit Suisse has been operating in Thailand for 16 years and has intimate knowledge and understanding of the needs of private, corporate and institutional clients in the market. Chris Prasertsintanah, Country Manager and Head of Equities Thailand, added, “Since 2000, Credit Suisse has been operating a full-service securities brokerage with a dedicated on-the-ground investment banking team and a highly experienced research team. We have been a key financial service provider to major conglomerate, corporate and state-owned enterprises in Thailand, providing financing and advisory services, ranging from capital markets transactions, liability management, M&A advisory as well as structured finance. The establishment of a new wealth management team in the country marks our ongoing commitment to the Thai market.”

1 Capgemini and RBC Wealth Management Asia Pacific Wealth Report 2015