New Credit Suisse service eyes wealthy clients
Credit Suisse, Switzerland's second largest bank, announced on Tuesday that it is to launch a pan-European online investment service aimed at attracting one million customers over the next five years.
The Global Investor Portfolio service intends to build up more than SFr50 billion ($28 billion) in funds under management.
It will be in operation from next month and target customers in Germany and Britain.
Clients will be able to invest and trade shares in 15 stock markets including London, Frankfurt and New York. Deposits will be accepted in Swiss francs, dollars, euros and sterling.
“Our offer is specifically designed for the 40 million people identified as Europe’s new affluents – people who have gained most from the years of economic growth, rising incomes and rising stock markets,” said Thomas Wellauer, chief executive of Credit Suisse Financial Services.
The new service will gradually be extended throughout Europe.
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