sarasin

The Swiss bank’s Asia CEO wants more relationship managers on board by the first quarter next year and sees establishing a China presence as the big challenge for 2011.

Asset managers believe Western economies, other Asian currencies and commodities will benefit from renminbi reform. But they are less positive on China itself.

The Swiss private bank has poached Damien Ng from Credit Suisse where he held a similar role.

The Swiss private bank opens its first branch outside of Switzerland, which is more proof – if you needed it – that the growth story for wealth management is in Asia.

The newly incorporated company, Sarasin-Alpen (India) Private Limited, will provide advisory and consultancy services.

Sarasin is hoping the reputation for reliability and discretion held by Swiss banks will help it expand its wealth management business in the mainland.