Middle East's best bank for wealth management 2017: Credit Suisse
The region’s wealthy are another group increasingly targeted by both local and international banks. The regional wealth management award goes to a firm with global breadth and expertise in this area, Credit Suisse, which also keeps the top spot in the Middle East in Euromoney’s 2017 private banking survey.
Competitors should not underestimate how much investment Credit Suisse has made in its emerging markets businesses like the Middle East. The operation here counts some 500 staff from relationship managers to structured lending experts, based in seven states, of which Saudi Arabia is one of the most active.
Ultra-high net-worth individuals account for most of the firm’s business in the region and their more complex needs benefit from Credit Suisse’s international franchise. Nonetheless, whether it is collateralized credit, serving the needs of Shariah-compliant customers, Lombard lending, bridge financing or private equity, the bank regards its presence on the ground and its capabilities for lending and custody of local securities as vital.