Awards for Excellence 2018
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With an onshore presence since 1993, Credit Suisse has long dominated private banking in Russia, despite a potential upset in 2015 when an investigation was launched into one of its bankers in the Russian business. As testimony to its depth of relationships in the region’s largest ultra-high net-worth market, the bank has instead gone from strength to strength. Over the last two years, its private bank has achieved double-digit revenue growth and recruited 30 new relationship managers in 2017 alone.
Its commitment to central and eastern Europe combined with its global expertise and corporate banking prowess puts Credit Suisse in a unique position, and this year it wins the award for the region’s best bank for wealth management.
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| Robert Cielen |
Robert Cielen, head of international wealth management emerging Europe at Credit Suisse, says the bank has evolved with its clients: “Three years ago, 80% of our presence here were private bankers, but now that is more like 60% – the rest being corporate and investment bankers and product specialists.”
It is one of the few banks in the region that can bring the holistic approach best suited to the wealthy entrepreneurs, business owners and families that hold the lion’s share of high net-worth money. Credit Suisse’s core business lies in Russia, the Czech Republic and Poland, as well as Cyprus, Greece, Romania, Slovakia and the Ukraine. And as China’s Belt and Road Initiative brings business to the region, it finds itself now stretching into central Asia – Kazakhstan, Azerbaijan and Uzbekistan.
