Credit Suisse launches private banking in Poland
Credit Suisse, the Swiss bank, has opened an onshore private banking office in Warsaw, Poland, following office openings in Mexico and Japan this year.
Credit Suisse has hired 20 private bankers from local institutions for the newly launched office and intends to expand further over the next few months. Head of the Polish private banking office, Wladyslaw Bartoszewski, joined the bank from JP Morgan in 2007.
Andreas John, market area head of private banking for Russia, Eastern Europe, Greece and Central Asia said: "The Polish private banking market is now valued at $ 90bn - $ 100bn, after a period of high growth over the last decade. The many family-owned enterprises in the region are calling out for wealth management solutions." The bank has been present in asset management and investment banking in Poland since 1991 and 1996, respectively. John said the new private banking office will allow Credit Suisse to deliver its integrated financial services platform to its client base in Poland.
The bank said its business will differ from other services in the Polish banking market, partly through a broadly-based structured advisory process encompassing wealth structuring, succession planning, real estate holding, stocks, bonds, private equity and hedge funds.
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