Thursday, 8th January 2009

 
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22 May 2008 - Tara Loader Wilkinson

Credit Suisse launches private bank in India

Credit Suisse has set up a private bank in India.

The bank announced this morning that it had officially opened its private banking operations in Mumbai, which it said was "an important milestone".

Credit Suisse was granted a portfolio manager license by the Securities and Exchange Board of India in January this year, so has only now been able to set up the private bank.

Puneet Matta, head of wealth management for Credit Suisse in India, said: "With its wealth management operations in India, Credit Suisse will now be able to provide high net worth individuals locally with a comprehensive range of investment products and services. Within the next three years, we aim to become one of India's top three wealth management players."

Within the next three years, Credit Suisse said it will be opening private banking offices in New Delhi and Bangalore.

Tags: Credit Suisse , India , Puneet Matta

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