Credit Suisse Private Banking - Competitor Profile

January 2021 •
34 pages •
Report ID: 6020482 •
Format: PDF

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Credit Suisse Private Banking - Competitor Profile

Summary
’Credit Suisse Private Banking - Competitor Profile’ provides a comprehensive analysis of Credit Suisse’s private banking and wealth management operations. It offers insights into the company’s strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service propositions are covered, as are product innovation and marketing activities.

Credit Suisse is a global bank headquartered in Zürich, Switzerland.It provides private banking and wealth management, corporate banking, investment banking, and retail banking services to individuals, corporations, and institutions in approximately 50 countries.

It offers private banking services through three regional divisions that collectively employed 3,540 relationship managers as of December 31, 2019.

Scope
- Credit Suisse provides private banking services through three regionally focused divisions: Swiss Universal Bank (SUB), International Wealth Management (IWM), and Asia Pacific (APAC). These three regional divisions are supported by a fourth division called Global Investment Bank, which was formed in August 2020 upon the integration of the existing Global Markets and Investment Banking & Capital Markets (IBCM) divisions.
- While Credit Suisse has a global presence, Switzerland remains its key market with 1.5 million private clients. The bank is also focusing on APAC growth by introducing new office locations, hiring additional relationship managers, and developing digital banking services.
- Credit Suisse has been investing in digital platforms for financial advisors and clients. It is continuously upgrading its digital platforms to enhance the client experience. In 2020, it launched digital banking services CSX and CSX Young, enabling clients to access banking and personal advisory services through a single digital app.
- Amid the global pandemic, Credit Suisse’s operating revenues declined by 6.7% to $5,968m in Q1 2020 as compared to Q4 2019, particularly on account of low net revenues in SUB, IBCM, and IWM. However, with the slowing infection rate, the revenues increased by 7.2% to reach $6,400m in Q2 2020 as compared to Q1 2020. However, the increase in revenues in Q2 2020 was offset in Q3 2020, resulting in a 16.1% decline in the group’s operating revenues in Q3 2020 as compared to Q2 2020.
- Credit Suisse’s marketing sponsorships are focused on cultural and sporting events, mainly under the wider Credit Suisse brand.

Reasons to Buy
- Examine the financial performance, key ratios, and AUM growth of Credit Suisse and its private banking business and benchmark this competitor against other global wealth managers.
- Understand Credit Suisse’s current strategic objectives and their impact on financial performance.
- Discover Credit Suisse’s key products and its client targeting strategies and examine whether these have been successful.
- Learn more about Credit Suisse’s private banking marketing strategy, social media presence, and digital innovations.

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