Americas chief executive of Credit Suisse Private Bank Anthony DeChellis has told the Reuters Global Private Banking Summit that "in US dollar terms, I think the US business is up somewhere between 16 and 20 per cent year-on-year, and asset flows continue to come in at a decent rate."

"We continued to grow [this year], though 2007, 2008, 2009 were more dramatic growth years for us because relative to our competitors Credit Suisse was attractive to our clients, for a lot of reasons," he said.

One factor that has fuelled growth this year, he said, has been the expiration of the US Treasury bank bailout programme, which in 2008 and 2009 had encouraged many investors to place cash deposits with US banks.

"That has now rolled off with a lot of the institutions, so I think we have an easier time bringing at least cash assets than we did before," he said.