If anyone was in any doubt about where in the world wealth management will record the highest growth, a recent interview conducted in the As...

If anyone was in any doubt about where in the world wealth management will record the highest growth, a recent interview conducted in the Asian media by Joachim Straehle, a member of Credit Suisse’s executive board and the head of international private banking (which comprises everything outside of Switzerland and the largest European countries) will point them in the right direction. It’s Asia. "My mission is to provide the growth for Credit Suisse," Mr Straehle is quoted as saying. "There's only one region that grows by about 10 per cent. I have no other choice but to come to Asia and look for the growth." Straehle last month relocated to Singapore, a move that will give Asia much more senior management attention than before. With flat growth in its traditional geographic markets, Credit Suisse can only meet its target of 5 per cent annual growth in private-banking assets by tapping Asia's rapid expansion. "Europe and Switzerland are very saturated markets. There's not too much wealth being generated," Mr Straehle said.