Expanding Credit Suisse Sets Up New Singapore Office

Vanessa Doctor

20 March 2011

Credit Suisse has announced plans to set up a new office in Singapore to accommodate its growing staff numbers, highlighting how this city is generating growing business for the Zurich-listed banking and wealth management firm.

Situated at the ONE@Changi City business park, which will be completed by the fourth quarter of 2012, the new office is expected to house more than 4,000 of the Swiss bank's staff. The Credit Suisse office will be the anchor tenant of the building and will occupy five floors of nine, with the option to extend by another two floors.

At present, the bank has multiple offices across the city-state. With the opening of the branch, Credit Suisse's key locations will be narrowed down to two: one at One Raffles Link and the other at the future ONE@Changi City.

"Singapore is an essential business hub for the Asia-Pacific region and a critical centre for the Swiss bank both in terms of business strategy and its global support operations. Singapore is the bank's fourth largest office in the world and by 2013 it will have the capacity to employ over 6,000 staff," Lito Camacho , vice chairman Asia-Pacific and Singapore country chief executive, said in a statement.

The bank is also retaining its data centre in Serangoon.