Credit Suisse was awarded two major international industry accolades as "Outstanding Global Private Bank" and "Outstanding Business and Entrepreneurs Private Bank" at the 18th Private Banker International Wealth Management Summit held in Singapore.
In addition, Credit Suisse was also selected as a finalist in the award categories of "Outstanding Private Bank - Europe", "Outstanding Global Private Banker" and "Outstanding Young Private Banker".
Mr Walter Berchtold, Chief Executive Officer of Private Banking for Credit Suisse commented, "At Credit Suisse, we are extremely honored to receive this recognition of our Private Banking franchise. In the midst of such unprecedented and exceptionally challenging environment for our industry, this is a strong vote of confidence for the success of our growth strategy, the dedication of our employees, our firm commitment to focus on our clients and deliver to them the integrated bank solutions from across all our businesses for their personal and corporate needs. The strong continuous inflow of net new assets of CHF 40 billion we received in the first nine months of this year underscores the strength of our franchise and the trust placed in us by our clients worldwide."
"Our Private Banking business has demonstrated strong resilience and achieved good results in these challenging times. Consistent with Credit Suisse's strategy, we will continue to invest in and grow our Private Banking franchise which I am convinced will be even stronger when we come out of this environment. Most importantly, now more than ever, we will continue to stay close to our clients, restore confidence and lend solid support to our employees."
Commenting on the awards, John Evans, managing editor of Private Banker International and lead judge for the awards said, "Credit Suisse has had to take hits from the credit crisis, but unlike its rivals in Switzerland and elsewhere, it has escaped the worst of the mauling and is undergoing rapid expansion of its wealth management capabilities. Credit Suisse has been exceptionally well placed to be among the favored homes for client funds as the credit crisis unfolds."
"The 'Outstanding Business and Entrepreneur Private Bank' award is for the institution that is able to most professionally harness its capabilities to meet the disparate business, private investment and estate planning needs of its clients. Credit Suisse's One-Bank integration of private and investment banking is steadily gaining momentum, and so this year the bank takes the award. It is reporting steadily more impressive revenues across the group from referrals between business units."
The Wealth Management Awards are based on inviting nominations from the worldwide readership of Private Banker International. Form the short list, winning institutions are chosen by PBI's Advisory Board which is made up of independent industry experts. The awards aim to benchmark best practices and best business models in the quickly evolving wealth businesses in Asia and worldwide.
The Private Banker International Wealth Management Summit 2008, held in Singapore from November 6 to 7, is organized by the global wealth journal Private Banker International (PBI), part of VRL Knowledge Bank.
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