| 28 Jul 2008 |
|
Middle East is a key growth area
- Text size
Interview with Bruno Daher is a Managing Director and Head of Private Banking for the Middle East/Indian Sub-Continent at Credit Suisse
Gulf News: What kind of due diligence is done to corroborate a client's source of wealth and business activities?
Daher: At Credit SuisseCredit Suisse
, we have strict 'know your client' and due diligence rules in place. We also ensure that we thoroughly profile our clients to gain a deep and comprehensive understanding of their investment needs and financial requirements. This in turn enables us to take on a holistic approach to responding to clients and to provide them with high quality advice, tailored investment strategies, and solutions through our integrated banking business. With this comprehensive approach we ensure that the investor's portfolio matches his or her profile and the current market situation at all times.
Daher: In general, clients are looking for synergies and are seeking establishments that can provide a comprehensive range of services from a single source. By combining our private banking, investment banking and asset management activities, we are able to offer our clients local access to a global range of financial products, services and innovative solutions. In the current market environment, clients are increasingly risk averse and seek to invest in more traditional vehicles such as capital protected investments in addition to more conservative, total return investments.
Gulf News: With the growing wealth in the region, thanks to high oil prices, do you intend to expand your operations?
Daher: Credit SuisseCredit Suisse
is highly committed to the region. In fact, over the past four decades, we have established a local presence in Beirut, Abu Dhabi, Cairo, Dubai, Doha and Riyadh, which alongside our global footprint, provides a strong competitive advantage. The Middle East remains one of the bank's key areas for growth and investment. As such, our business in the region has experienced solid expansion and development across private banking, investment banking and asset management and will continue to do so in response to local client demand.Gulf News: Generally, how do you view the future of private banking in view of the ongoing crises in financial markets?
Daher: It has never been more important to remain responsive to unique client requirements and deliver bespoke solutions. At Credit SuisseCredit Suisse, we place a great emphasis on engaging with our clients and are convinced that they gain value from our experience and resources to navigate through difficult times. On the basis of a personal relationship founded on trust, a wealth manager not only has to be able to provide complex products and solutions but also act as an important sparring partner. At Credit SuisseCredit Suisse, we help our clients to successfully manage such complex transition phases and look after their professional, business as well as personal needs.
By Irish Eden R. Belleza
© Gulf News 2008
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.