Credit Suisse has moved one of its most senior officers to Singapore in a clear signal of the importance it now places on the region. Joachim Straehle, a member of the firm's executive board, relocated to the Lion City a fortnight ago.
Straehle is the head of Private Banking International and his move from Zurich is a key strategic decision by the bank. He now ranks as the most senior private banker in the Asia-Pacific.
But what is the thinking behind the move
The private banking area is the most important part of the Credit Suisse group in terms of net profits, says...