Benjamin Cavalli: «Onshoring Offers Tremendous Wealth Opportunities»: A refreshed strategy has Credit Suisse focused on onshoring, China, the ultra-rich and high net worth individuals. APAC wealth… CreditSuisse BenjaminCavalli wealthmanagement
Following the announcement of a strategic overhaul during its third quarter earnings release, Credit Suisse’s wealth management business in Asia has already made a number of changes. This includes some downsizing as part of the group’s cost-cutting initiative to reduce global headcount by 5 percent in the fourth quarter and a recent streamlining of the organizational structure in the region.
«A key initiative for APAC wealth management at Credit Suisse is to accelerate onshore growth and drive onshore profitability,» said Benjamin Cavalli, the bank’s head of wealth management APAC, in a conversation with finews.asia. «Our aim is to provide a full service wealth management offering to clients onshore China. We want to be the leading wealth manager for entrepreneurs in China, addressing both mainland and international corporate and private needs,» Cavalli underlined.
«In APAC, Credit Suisse has always successfully deployed its One Bank approach to clients, ensuring we provide a whole suite of services across divisions, in wealth management, investment banking and asset management. It’s part of our DNA and is our key strength and differentiation in the region and something we will not deviate from,» Cavalli said.
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