Credit Suisse hints at more hiring in Singapore and Hong Kong

Posted by PSR_AXP 45 days ago
If you’re working in Credit Suisse’s wealth management unit, Singapore and Hong Kong appear to be the ideal locations to base yourself.
At an “investor deep dive” on Tuesday, Francesco De Ferrari, the Swiss bank’s new global wealth head, announced plans to expand his division. At the same event, which followed a profit warning earlier this month, CS also outlined hiring in compliance and cuts to technology budgets.
De Ferrari designated Hong Kong and Singapore as “priority markets” for wealth management during his part of the deep-dive presentation. The strength of wealth generation in Asia is “phenomenal” and the next generation of rich people in the region are typically “hungrier” than their parents, said De Ferrari, while cautioning that events in China have a “big impact” across Asia and pointing out the importance of the Communist Party National Congress this autumn. 

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