Credit Suisse Opens New Private Banking Office in Birmingham

Tom Burroughes

22 May 2008

Credit Suisse has opened a private banking office in Birmingham in the UK’s Midlands region as part of a drive to tap wealth in the area, the Swiss banking group said on Wednesday.

Amrit Uppal will lead the Birmingham team in his role as head of the Midlands region for Credit Suisse and he will be based in Birmingham along with three relationship managers, who have been covering the region for the past two years. They will continue to serve private clients throughout the East and West Midlands. The relationship managers are David Price, Austin Healey and Nick Keenan. Mr Healey is better known outside private banking circles as a former England rugby international with more than 50 caps, as well as a television pundit on the sport.

Mr Uppal joined Credit Suisse in 2006 and he has been working in the Midlands for the past eight years.

A number of private banks and wealth management firms have opened, or said they plan to start, operations in Birmingham and other parts of the UK to exploit a rising number of high net worth individuals. Rathbone Brothers, for example, said earlier in May that it was opening an office in Birmingham. Brown Shipley, the UK private bank, is also opening an office in the city.

"Credit Suisse’s decision to open an office in Birmingham underscores our commitment to the United Kingdom. This office will allow the bank to be even closer to its clients in the Midlands, providing them with comprehensive financial services from its global platform,” Credit Suisse said in a statement.

"Credit Suisse has observed an increase in the number of entrepreneurs, family businesses and professionals in this region who require high-quality, tailor-made investment solutions," it added.

Richard Algar, director and head of the UK regional team in Credit Suisse’s private banking division, said: “We are very excited about the opening of an office in Birmingham, which demonstrates our long-term commitment to the Midlands.”

Credit Suisse’s new offices in Birmingham are located at 172 Edmund Street.