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Credit Suisse to Expand Adviser Unit for Billionaire Clients

  • New wealth unit chief Wehle to strengthen service to richest
  • Swiss bank places hybrid digital wealth offering in new unit
A tram passes the Credit Suisse Group AG headquarters in Zurich.

A tram passes the Credit Suisse Group AG headquarters in Zurich.

Photographer: Stephen Kelly/Bloomberg
Updated on

Credit Suisse Group AG will boost the number of private bankers that serve its richest clients in the first move by the bank’s new international wealth-management chief.

The lender plans to "significantly expand" its business for its strategic clients, who are mostly billionaires, according to a memo from Philipp Wehle seen by Bloomberg and confirmed by a bank spokesperson. As part of that, Switzerland’s second-largest bank will employ more so-called strategic client partners primarily responsible for the richest customers.