Credit Suisse Bids Above Rivals For Rich Clients as Bankers Exit
- Lender ramps up bid to win client money after huge outflows
- About a dozen senior bankers in Asia leave since September
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Credit Suisse Group AG is escalating efforts to win back clients with deposit rates that are significantly higher than rivals as a run of senior banker departures adds urgency to its campaign to recoup assets.
After unprecedented outflows in the fourth quarter, the Zurich-based lender has raised three-month rates to as much as about 6.5% for new money of $5 million and above in Asia, according to people familiar with the matter, who asked not to be identified discussing private information.