Credit Suisse Launches Private Banking in Austria

Paul A Adams

19 November 2007

Credit Suisse has launched a private banking operation in Austria operating out of offices in Vienna and Salzburg. The business is focused on high net worth individuals and families, as well as businesses. At the official inauguration of the Credit Suisse office in Vienna, Michael Rüdiger, head of Germany, Austria, Luxembourg, & Ultra-High Net Worth EMEA, said: "Austria is an especially important market to us. Clients here will now be able to take advantage of the full breadth of our integrated bank's offering. In addition to the traditional private banking business with Austrian HNWIs and UHNWIs, there will be a particular focus on those groups attracted by the locational advantages that Austria has to offer - including German expatriates. We are also interested in expanding our relationships with Austrian family-owned businesses and German family-owned businesses domiciled in Austria. These family owned businesses can also benefit from our investment banking advisory services, including advice on capital raising, listings and succession planning." For several years, Vienna has also served as an important bridgehead to the markets of Central and Eastern Europe. Mr Rüdiger added: "Numerous Eastern European clients have traditionally rated the city as a platform for business activities and banking. We have responded to their interest in providing our private banking services here."