Credit Suisse today announced expanding its Wealth Management business in Germany. The Switzerland-based global investment bank detailed that it is focusing on Ultra-High-Net-Worth (UHNW) and entrepreneurial clients as well as sophisticated family offices.
The company further revealed that Sven Stephan was appointed to lead and build the new business unit dedicated Wealth Management team of Credit Suisse (Deutschland) AG.
German wealth management clients of the bank will now have on-the-ground advisors, based in Frankfurt, experienced in serving clients with institutional-like needs. At the same time, they will also have access to the bank’s extensive booking and solution capabilities in Switzerland.
The dedicated team in the German arm of the bank will work closely with the local investment banking and asset management teams.
Robert Cielen, Head of Wealth Management for Europe at Credit Suisse, commented:
This expansion is proof of our strong commitment to Germany as one of Credit Suisse Wealth Management’s priority markets and is in line with our strategy to grow our business with UHNW and entrepreneurial clients. We are excited to see Sven lead our wealth management efforts on the ground and we look forward to offering our clients in Germany greater connectivity and expertise.
Sven Stephan joined Credit Suisse (Deutschland) AG in 2021 as Managing Director. Prior to that, he led HSBC Deutschland’s Private Banking team. Stephan has 23 of banking experiences, of 17 were focused on wealth management. Stephan reports to Frank Heitmann, CEO Credit Suisse (Deutschland) AG and functionally to Mischa Tschopp, Market Area Head of Germany.
Dr. Frank Heitmann, CEO Credit Suisse (Deutschland) AG, added:
Frank Heitmann Source: LinkedIn
This on-the-ground integrated approach reflects the increased demand of German UHNW and entrepreneurial clients for a strategic dialogue spanning wealth management, investment banking and asset management capabilities. Our strengthened one-bank team will mean that we will be able to offer even more tailored solutions and greater proximity to our clients in this growing market.
On Monday, Credit Suisse announced appointments to its Board of Directors. Earlier in February, Credit Suisse also hired senior Oliver Wyman adviser Michael Bonacker as vice chairman of investment banking and capital markets.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
