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Credit Suisse steps up lending to Asia's super-rich

[SINGAPORE] Credit Suisse is ramping up to grab a bigger share of the private banking business in Asia by channelling more resources to increase lending to the tycoons in the region.

"Lending is an important part of private banking," said Hans-Ulrich Meister, Credit Suisse global head, private banking and wealth management and member of the executive board.

Having almost doubled its Asia assets under management (AUM) over the past four years to 112.4 billion Swiss francs (S$153.2 billion), there will be no let-up in growing the business in the world's fastest growing economies, said Mr Meister in a recent interview.

Net new assets for the first nine months this year came to 8.8 billion francs, up...

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