Strategy
Credit Suisse Private Banking Champions Diversity in London
Credit Suisse Private Banking in the UK has become the latest
wealth manager to target the lesbian, gay, bisexual and
transgender community.
The Swiss bank’s Stephen Connolly is leading the initiative,
which was launched several weeks ago, along with colleague Toby
FitzGerald.
The pair will be targeting high net worth individuals in their
30s and 40s.
Credit Suisse is not the first UK wealth manager to recognise the
power of the pink pound. As long as ago as 2005, Merrill Lynch
identified this potentially profitable niche by hiring Gareth
Lewis to spearhead its gay business in Europe.
Prior to this ex-mayoral candidate for London, Ivan Massow set up
Massow Financial Services, renamed Fresh Finance, to target the
LGBT community. This firm was subsequently sold to Helm Godfrey,
a London-based firm of independent financial advisors targeting
the affluent.
