Winners rationale

In a year like 2018 when a flurry of headwinds buffeted the markets, the concept of ‘one bank’ was unreservedly put to the test. Weathering the storm, Credit Suisse nimbly leveraged the capabilities of the entire financial group and demonstrated that its integrated model was more than fit to meet the needs of its Asian UHNW clientele.

Indeed, since 2017, the bank had begun to invigorate its UHNW business in Asia with an eye on more effective execution and emphasis on key clients. It bolstered client coverage from senior managers, increased its own accountability through more disciplined reporting and reviews, and sharpened its focus on strategically significant UHNW entrepreneurs. This has all led to ensuring that its UHNW clients and their businesses receive the most effective solutions from the entire bank, uninhibited by barriers born of interdepartmental trivialities that are commonplace at other institutions.

The ability for Credit Suisse to deliver the group’s capabilities is illustrated by numerous key transactions completed over the past year, including a US$500 million single share financing deal that featured favourable terms for the client and well-mitigated risks for the bank’s balance sheet. Another key deal involved a junior debt placement which the bank helped distribute to very targeted investors within a short timespan.

Further, Credit Suisse managed to strategically diversify the income mix for its UHNW segment while experiencing healthy increases in all revenue lines. Part of the impressive rise of recurring income is due to the private bank’s ability to leverage the expertise of its asset management arm and the scalability of its advisory solution. In one instance, the private bank drew on Credit Suisse Asset Management’s knowledge of European property to land a €100 million investment from one client looking to diversify away from Asian real estate. And in a market where paying for advice remains relatively uncommon, Credit Suisse Invest was able to attract the buy-in of its UHNW clients, collecting multiple tickets in excess of US$100 million.

Led by an intimate understanding of the full journey of its UHNW clientele and an unrivalled collaborative culture, Credit Suisse has indeed proven that it is the ‘trusted entrepreneurs’ bank’.

Credit Suisse is Asian Private Banker’s Best Private Bank – UHNW Services for 2018.