New international wealth chief Philipp Wehle makes his first move at Credit Suisse to increase the number of private bankers covering its richest, strategic clients.
Credit Suisse’s said it would «significantly expand» the business targeting these strategic clients who are mostly billionaires, according to a «Bloomberg» report, citing an internal memo. One such growth driver deployed will be to hire more «strategic client partners» to cover the segment.
The bank also restructured its hybrid digital offering, which targets affluent to high net worth clients, into a unit called private banking international led by Raffael Gasser who was recently appointed as Credit Suisse's head of international private clients.
EMEA, LatAm
Credit Suisse CEO Tidjane Thiam is reportedly devoting more face time to top private bankers to discuss compensation and career prospects in an attempt to prevent defects following the departure of Wehle’s predecessor Iqbal Khan who left to join rival UBS.
Thiam is reportedly focused on private bankers covering emerging markets like Brazil, the Middle East and emerging Europe.
