Credit Suisse to expand asset management into India

4 October 2006

Credit Suisse, Switzerland's second largest financial group, has confirmed that it plans to establish an asset management business in India.

Robert Parker, vice chairman of the bank's asset management division, told reporters at a business conference in Mumbai that India's emerging market still remained a gap in Credit Suisse's business network.

Mr Parker added that plans for the new India-based operations would be drawn up within the next six months, although he did not rule out the possibility of an expansion in the form of a joint venture.

In making the move to India, the Swiss bank will join several other big names attracted by the sub-continent's funds industry, including Merrill Lynch and Fidelity.

As one of the world's fastest growing economies, India has attracted significant investment from overseas in recent years, with an estimated $10.7 billion in stock bought by foreign investors last year alone.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development