With its downtown Chicago office at capacity, Credit Suisse Private Banking USA is opening an office in the suburb of Northbrook to target high net worth and ultra-high net worth clients in the area. Peter Skoglund, managing director and head of the central region of Credit Suisse's private banking, said: "Chicago has a diverse and expanding business market and growth in the number of high net worth individuals." The Northbrook office will be headed by Christopher Williams, who joined Credit Suisse earlier this year from Bank of America's private bank, where he headed the Chicago and upper midwest regions. It will have 40 to 50 staff, half of whom will be client-facing. A Philadelphia office opens later in 2007.