Sunday, 22nd November 2009

 

3 July 2009 - Press Briefing

Credit Suisse attracts fresh fund inflows at wealth unit

Credit Suisse's Asia-Pacific private banking business has attracted net fund inflows worth SFr2.6bn (€1.7bn) during the first quarter, representing an annualised 20% growth, Lito Camacho, vice-chairman, Credit Suisse Asia Pacific and Singapore chief executive, told The Business Times.

As part of its strategy to target the ultra rich, the firm would hire relationship managers at the senior level only, Camacho said, adding non-performing junior-level RMs would be sacked.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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