Credit Suisse unveils targets for Asia-Pacific
It reveals 900m Swiss franc war chest to expand entrepreneur client base in the region.
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Genevieve Cua
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CREDIT Suisse has set its sights on aggressive expansion in the Asia-Pacific, and will be investing as much as 900 million Swiss francs (S$1.26 billion) in the region over the next three years.
The amount comprises the lion's share of 60 per cent of planned investments of 1.5 billion Swiss francs in "divisional growth initiatives" announced by the group last October.
The heart of the strategy is a reorganisation of the Asia-Pacific business into an autonomous unit, that will result in a more focused and expedited offering targeted at entrepreneurs, which combines private banking and investment banking services. This comes at a time when most other banks are downsizing their investment banks.
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