Credit Suisse names Indian wealth-business head

FWR Staff

26 November 2007

Ex-Citi exec to spearhead Swiss bank's operations in fast expanding market. Zurich-based Credit Suisse has made former Citigroup executive Puneet Matta head of its wealth management operations in India. Reporting to Mihir Doshi, head of Credit Suisse's operation in India, Matta is responsible for building out the bank's wealth-management capacity in the country.

Second fastest

"With an 18-year career in India's banking industry, Puneet brings to Credit Suisse a wealth of knowledge and experience," says Doshi. "Building a local wealth-management business will allow Credit Suisse to deliver the integrated bank to its clients in India."

Matta was head of Citi's private-banking business in India. He has also headed business development for Citi's Indian corporate- and investment-banking units.

Alois Baettig, head of Credit Suisse's private-banking business in Europe, Middle East and Africa, calls Matta "a highly experienced banker with an outstanding track record in the wealth-management business. This appointment underlines our commitment to one of the bank's key growth markets, and shows that Credit Suisse is prepared to make further investments in the region."

In 2006, India's population of U.S.-dollar millionaires increased by 20.5% to about 100,000, according to the World Wealth Report, which is co-published by Merrill Lynch and Capgemini. Only Singapore churned out millionaires at a faster pace. -FWR

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