Winners rationale

Credit Suisse, embarking on its onshore wealth management setup in 2016, has once again underscored its credentials in a competitive Thailand international market, as Thai policymakers continue to relax controls in a bid to encourage the country’s wealthy to invest more. In 2018, the bank rolled out a number of initiatives that further strengthened the connectivity between its on- and offshore activities, in the process reinforcing its status as the go-to solutions provider for wealthy Thais.

Indeed, the number of onshore private banking teams has trebled year-on-year, net new assets have surged over the same period, and AUM for the client segment has risen on a steady annualised trajectory of 25% since 2015.

In entrusting their hard-earned wealth to Credit Suisse, Thai clients gain access to the Swiss bank’s global offering and Thai-specific solutions, including credit-linked notes with embedded Thai credit default swaps, structured products with Thai equity and index underlyings, and multi-shore lending capabilities introduced exclusively for Thai entrepreneurs last year.

Of course, not to be downplayed is the cross-divisional collaboration that underlines Credit Suisse’s compelling offering. Thai entrepreneurs are able to leverage Credit Suisse’s leading Thailand advisory and underwriting franchise and advance their businesses through deals handled by the Kingdom’s top investment bankers.

Further, Credit Suisse has impressed the Judging Panel with the amount of energy it has poured into its Thailand teams. As of last year, a team of more than 50 frontline staff — two-thirds being Thai — covered the Thailand market across the Singapore, Hong Kong, and Bangkok offices, with the average staff member possessing more than 10 years of private banking experience.

Credit Suisse is Asian Private Banker’s Best Private Bank – Thailand International for 2018.