Credit Suisse To Add Private Banking Offices

Credit Suisse plans to add private banking offices in the Northeast, beginning in White Plains, N.Y., and Fairfield, Conn.

According to Dow Jones Newswires, the bank wants to add 16 relationship managers between the two offices in the next six months, and has already lured three private bankers from the Bank of New York for the White Plains location, the wire service said.

Credit Suisse plans to reinvest proceeds from the sale of the insurer Winterthur Group into its business, says MarketWatch, including the development of advisory services for high net-worth individuals.

"Clearly we have a gap in the U.S., where we're smaller than we should be, and that market is rapidly evolving," the firm's chief executive, Oswald Gruebel, told Dow Jones earlier in June.

Gruebel told MarketWatch that Credit Suisse may acquire trust operations or family offices to serve such prospective clients.