Published by Asia First – 27th April 2017
Credit Suisse needs hundreds of fresh private bankers for its Asia-Pacific (APAC) operations, but hiring has been momentarily stopped at the Swiss bank. Based on Credit Suisse’s chief executive officer Tidjane Thiam’s statement in 2015, the bank needs to recruit 180 more bankers to meet its target of having 800 relationship managers (RM) in the APAC region by the end of 2018.
Over the past few years, Credit Suisse has been on a hiring spree that peaked in June 2016 with the hiring of 100 RMs. Data revealed that Credit Suisse’s APAC business continued to expand with revenues generated in the region increasing 44% to USD592mil. Regional assets also grew 18.8% to USD178.4bn. With its assets expanding, Credit Suisse needs more people to look after these assets but APAC RM headcount actually dropped this year to 620 compared to the last count of 640 in 2016.
