Credit Suisse discloses US private bank results to Reuters Summit

Credit Suisse’s Americas Private Bank Chief Tony DeChellis told Reuters in an exclusive interview on Oct 4 that the firm’s efforts to build a major U.S. private bank are making strong progress. At the Reuters Private Banking Summit, DeChellis disclosed year-to-date results in adviser recruiting and client asset flows. The Reuters story explained that while Credit Suisse’s private banking business was growing at a steady clip, the expansion has slowed from previous years. DeChellis also provided a window on the frenzied bidding for bankers and wealth advisers, noting that intense competition from a growing number of aspirants had driven up the price of talent — key information for the investors and industry executives who read our stories.