The company is targeting Canadian individuals having at least $25m of assets.
Credit Suisse Canada head Ronald Lloyd recently told Bloomberg: "Credit Suisse is bringing what we think is a much-needed perspective to a relatively small group of ultra high-net-worth Canadians who, given their situation, really require a global wealth-management solution."
According to data from Royal Bank of Canada and Cap Gemini, the number of millionaires in Canada have increased by 7.2%this year compared to last year, making North America the richest region in the world.
Credit Suisse North America private banking head Richard Jaffe said: "We actually have made great progress and we’re in many ways ahead of plans and expectations.
"Things are going well in North America and the US, and the Canadian strategy fits very nicely into our strategic growth plan."
In another development, the lender is merging its eastern and western European private banking businesses, to accelerate growth after the recent decline in business due to tax issues related to Swiss accounts.
Credit Suisse private bank co-head Hans Ulrich-Meister and EMEA CEO Gael de Boissard were quoted by Reuters as saying: "Significant progress has been made in solving legacy cross-border tax matters with the aim to finalize by the end of 2015."
