Credit Suisse Considers Return to U.S. Private Banking After Exit
- Bank considers Miami office for wealthy Latin American clients
- Lender offloaded U.S. wealth business to Wells Fargo in 2015
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Credit Suisse Group AG is considering a return to U.S. wealth management after a four-year absence as Chief Executive Officer Tidjane Thiam seeks to boost growth in private banking.
Talks have focused on adding $15 billion of assets under management at a new base in Miami, mostly catering to wealthy Latin Americans, people familiar with the matter said. If the bank moves ahead, it could employ up to 30 people including control and support staff in Florida, the people said, asking not to be identified as the talks are private. No final decision has been taken and talks are at an early stage, they said.