Credit Suisse announced yesterday the official launch of its private banking operation in Japan. The business will be led by Junya Tani, head of private banking Japan for Credit Suisse based in Tokyo.
Credit Suisse's strengths are increasingly recognised by existing and potential clients and this provides the bank with a distinct competitive advantage, said Walter Berchtold, CEO of private banking.
In the first quarter of 2009, Credit Suisse achieved a net income of SFr2 billion $1.8 billion and a return-on-equity of 22.6%, which the bank is keen to point out positions it well within the private banking industry.
The combination of a strong capital position, strong funding and liquidity,...