Credit Suisse Grows Thailand Private Banking Team with 3 New Hires, 2nd Largest Economy in Southeast Asia with $500 Billion GDP
6th October 2021 | Singapore
Credit Suisse, the Swiss banking group with more than $1.75 trillion managed assets (CHF 1.59 trillion), is growing the Private Banking team in Thailand with 3 new hires – Thidatip Thitikarunwong as Team Leader based in Bangkok (Thailand) and 2 new Private Bankers Nakkagamon (Ying) Manosri and Naphak (Nahm) Tachasiriamorn. Thailand is the 2nd largest economy in Southeast Asia with more than $500 billion GDP, with 34 billionaires and more than 30,000 millionaires (Largest in Southeast Asia: Indonesia, $1.1 trillion GDP). The top 3 richest families in Thailand are Chearavanont Brothers with more than $30 billion fortune (Charoen Pokphand Group), Chalerm Yoovidhya family with $24 billion fortune (Redbull) and Charoen Sirivadhanabhakdi with $12 billion fortune (Chang Beer). Credit Suisse has been on a drive to grow Private Banking in Asia to serve the fast-growing billionaires, UHNWs & HNWs, and attracting top talents including more than 50 net hires of Relationship Managers across both North and South Asia in India, Southeast Asia, Hong Kong, Japan and Australia in 2021. (UHNW, HNW ~ Ultra high net worth, High net worth; GDP ~ Gross Domestic Product)
“ Credit Suisse Grows Thailand Private Banking Team with 3 New Hires “
Private bankers typically manage $100 million to $300 million of assets, with the most senior and top private bankers managing assets of $300 million to $1 billion and top UHNW private bankers can manage book size of $500 million to $2 billion.
Edwin Tan, Credit Suisse Head of Wealth Management Onshore and Head of Investment & Advisory Solutions Thailand:
“Thailand is a key strategic growth market for Credit Suisse, and we are continuing to build up our wealth management franchise to capture the vast opportunities in the wealth management sector there.
We remain deeply committed to expanding our team in Thailand, and have hired three senior bankers who will enhance our wealth management offerings and services to bring our best in class platform and solutions to our clients there.”
Credit Suisse Team Leader Thidatip (Dada) Thitikarunwong
Thidatip Thitikarunwong, joined the Credit Suisse Thailand market in October 2021, based in Bangkok. As a team leader, she will lead a new Thailand onshore team (includes relationship managers Nakkagamon Manosri and Naphak Tachasiriamorn – profiles below) and help to drive the growth of the Credit Suisse franchise in Thailand.
She joins Credit Suisse from CIMB Thailand where she was the Private Banking Team Head. She has 20 years of experience in various leadership and relationship management roles, including 10 years with Citibank Thailand and UOB Thailand.
Credit Suisse Relationship Manager Nakkagamon (Ying) Manosri
Nakkagamon (Ying) joined Credit Suisse as a Relationship Manager in early September 2021. She was previously with CIMB Thailand where she was a Relationship Manager for their private banking business.
An experienced private banker, she has 10 years of experience in relationship management roles with CIMB Thailand, DBS Vickers and Bank of Ayudhya (Krungsri). Prior to that, she spent a total of seven years with KasikornBank and Siam Commercial Bank.
Credit Suisse Relationship Manager Naphak (Nahm) Tachasiriamorn
Naphak (Nahm) Tachasiriamorn joined Credit Suisse as a Relationship Manager in early September 2021.
A veteran banker, she has two decades of experience in the financial sector, and spent the last eight years at CIMB Thailand, DBS Vickers and Bank of Ayudhya (Krungsri). Prior to that, she worked in MFC Asset Management, HSBC and Standard Chartered.
Credit Suisse, $1.75 Trillion AUM
In 2021 Q1, Credit Suisse reported total AUM of $1.75 trillion (CHF 1.59 trillion). Credit Suisse has 3 main business groups: Swiss Universal Bank, International Wealth Management (Private Banking) and Asia Pacific. The 3 business groups are supported by Credit Suisse Investment Bank. (AUM ~ Assets under Management)
For Asia Pacific, Credit Suisse reported CHF 241.9 billion AUM with 630 Relationship Managers in 2021 Q1.
Credit Suisse Assets under Management (AUM):
- Swiss Universal Bank – Private Clients: CHF 213.1 billion
- Swiss Universal Bank – Corporate & Institutions: CHF 487 billion
- International Wealth Management – Private Bank: CHF 386.2 billion
- International Wealth Management – Asset Management: CHF 458 billion
- Asia Pacific: CHF 241.9 billion
- Total: CHF 1.59 trillion / $1.75 trillion
(Net CHF 1.59 trillion AUM after reducing CHF 190.2 billion from assets managed by Credit Suisse Asset Management within International Wealth Management)
Credit Suisse Growing Fast in Asia
Credit Suisse continues to grow in Asia, and focusing on accelerating growth in North Asia including China. In Q1 2021, Credit Suisse hired 30 Private Bankers in Asia-Pacific.
Credit Suisse APAC reporting highlights for 1Q 2021:
- CS APAC delivered record net revenue and adjusted pre-tax income (PTI
- APAC regional revenue +39% YoY and 20% of Group revenue
- Client Business Volume at $419 billion
- APAC division pre-tax income more than doubled YOY
- Net New Assets $5.4 billion in 2021 Q1
Credit Suisse:
- Credit Suisse Strengthens North Asia Private Banking Team, Appoints 5 New Team Leaders
- Credit Suisse Senior Appointments & New Hires for Investment Banking & Capital Markets in APAC, Christian Deiss as Head of M&A APAC
- Credit Suisse Appoints Head of Family Office Services APAC Thomas Ang as Head of Wealth Planning APAC
- Credit Suisse Strengthens Investment Team, Hires Matthew Peh as Team Head of Emerging Asia & UHNW Investment Consulting
- Credit Suisse Strengthens Investment Team, Chatkaew Groatong as Head of Private Funds & Russell Huang as Managed Solutions Specialist
- Credit Suisse Report: Archegos Family Office Had $120 Billion Total Exposure
- Credit Suisse Hires Stella Lau as Private Bank Market Leader for Greater China, Adds 5 Senior Private Bankers
- Credit Suisse Hires Nicole Dunn as Private Banking Team Leader in Australia, 1.8 Million HNWs in Australia
- Credit Suisse Appoints Shirley Law as Private Bank Market Leader for Singapore, 270000 HNWIs in Singapore
- Credit Suisse Appoints Joyce Low as Market Leader Malaysia, To Maintain Leading Position
- Credit Suisse Hires Malcolm Tay as Deputy Group Head & Market Leader for Indonesia, Accomplished Banker with Stellar Reputation
- Credit Suisse Private Bank Expands in Greater China, Appoints John Huang as New Greater China Market Leader
- Credit Suisse Private Bank Appoints Tammy Tan as Team Leader for Thailand & Vietnam
- Credit Suisse Appoints Alois Müller as Head of Private & Alternative Markets APAC, Target $7.8 Billion Assets Yearly
- Credit Suisse Appoints Lock Keng Cheong as Market Group Head Greater China, Adds 6 Private Bankers & Advisors
- Credit Suisse Appoints Dominique Boer as Market Group Head Singapore, Adds 7 Private Bankers & Advisors
- Credit Suisse, UBS, Nomura, MUFJ and Morgan Stanley Losses for Archegos Family Office Nears $10 Billion
- Credit Suisse Raises $1.92 Billion in Capital, $5.5 billion Losses from Archegos Family Office
- Credit Suisse and Nomura in $6 Billion Hit by Bill Hwang Archegos Family Office
- Credit Suisse Global Wealth Report 2021
- Credit Suisse Global Wealth Report 2020
More:
- 2020 List of International Private Banks in Hong Kong
- 2020 List of International Private Banks in Singapore
- 2020 Top 10 Largest Family Office in the World
- 2020 Top 10 Largest Multi-Family Offices in the World
Credit Suisse
Credit Suisse is one of the world’s leading financial services providers. Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland.
Credit Suisse employs approximately 49,090 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.
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