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| Credit Suisse provides a wonderfully open plan modern approach, there are no men in pin stripe suites but rather attractive women in their thirties. Credit Suisse estimates that it will increase its management of private wealth by about 25% this year as the booming Asian economies are creating lots of new millionaires. |
| The island-state's central bank, the Monetary Authority of Singapore (MAS), reckons there are now around $200 billion of private-banking assets being managed there. This is but a fraction of the trillions of dollars looked after by Swiss private bankers. But there is still plenty of room for growth, given the low penetration of private banking, says Justin Ong, head of wealth management at PricewaterhouseCoopers, a consultancy, in Singapore. |
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Credit Suisse
One Raffles Link, #05-02
Singapore
039393
Tel : 65 6212 6000
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| Credit Suisse has maintained a strong presence in Singapore since 1971 and is committed to providing independent investment advice and tailored solutions to meet financial ambitions. The right balance between preserving and creating wealth may be achieved with the correct choice of selected products and services delivered by teams of financial experts with the experience, knowledge, and insight, as well as a proven track record of performance and service. |
| The island has plenty of its own millionaires to service. But money is also pouring in from neighbouring countries such as Indonesia, the Philippines and Malaysia, especially from the well-off "non-resident Indians" scattered across the region. Some private banks see Singapore as a springboard to India itself and are sending bankers to woo rich clients there. |
| Credit Suisse's growing global clientele is serviced by professionals representing 18 nationalities and speaking 20 languages. They enjoy round the clock access to online and offline financial services as well as lifestyle products through a series of integrated channels comprising a 24-hour Service Center and an online private banking platform. |
| This bank offers its clients a multidisciplinary, multinational skills of experts handling multi-faceted investment Credit Suisse offers a broad catalogue of tailor made services designed to meet the most demanding of expectations |
| The infuriatingly well-organised Singaporeans have been assiduously developing and promoting their island as an offshore financial-services base in the past few years, and are now reaping the fruits of their hard work. A private banker who moved there from Dubai says Singapore has the better regulatory environment and legal system. |
| In just four decades following independence, Singapore has developed into one of the world's most prosperous countries. It is highly praised for its stable political and economic climate, pro-business environment, excellent infrastructure and highly skilled workforce. Its geo-strategic location in the midst of the booming Asian economies offers access 500 million people in the South-East Asian market and the 2.8 billion strong Asian market. |
| To ensure they have enough qualified staff to serve the growing numbers of Asian plutocrats, the Singaporeans have even created a sort of "private bankers' charm school": at the Wealth Management Institute they learn about everything from financial derivatives to social etiquette-or as the prospectus puts it, to "strengthen personal skills in handling demanding high-net-worth individuals both in business and in social settings". Easier said than done. |
| Singapore's political and legal security, and attractive tax framework and strict banking secrecy laws make the country a preferred location for private investors. Singapore has a thriving financial sector, a highly-developed economy, a transparent and corruption-free environment and stable prices. The country consistently ranks in the global top 5 of most competitive economies and most influential financial centers. |
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