Initially, Credit Suisse will provide its private banking clients with access to Russian bond and equities markets, as well as classic banking services, such as cash and deposit accounts. The bank plans to expand the offering to include international securities, mutual funds and structured products.
The launch of the services in Moscow marks a major step forward in the implementation of Credit Suisse’s international growth strategy, the company said. The bank has been expanding its presence in the region for several decades and is already one of the leading investment banks in Russia.
Prior to launching its onshore private banking services, Credit Suisse expanded its private banking presence in the Russian market with the opening of its representative office in Moscow in 2003 and its representative office in St Petersburg in 2005.
We are highly committed to the Russian market, noted Maya Salzmann, Credit Suisse’s market area head of private banking UK, international and eastern Europe. Credit Suisse believes that Russia offers considerable wealth creation opportunities as a result of its dynamic economic development.
