Credit Suisse expanding operations in Asia Pacific region

27 April 2010

Credit Suisse is taking on more staff and expanding its operations in Australia, New Zealand and Singapore.

Ken Brier, head of non-Japan Asia Pacific rates trading, told Bloomberg that Credit Suisse is responding to demand from its clients.

"A lot of our central bank clients are looking to diversify out of US dollars and Australia is one of the key markets within fixed income," he said.

Mr Brier added that the US, Europe and Japan all have various economic difficulties at the moment, something he said "works to the advantage" of Australia.

He went on to state that Credit Suisse has already added to its team in the region and may take on more staff if its growth prospects are positive enough.

Earlier this month, the bank reported net income of 2.1 billion Swiss francs ($1.95 billion) in its results for the opening three months of 2010 – the fifth consecutive quarter in which Credit Suisse has recorded a profit.

By Tony Aynsley

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