Credit Suisse is expanding its Wealth Management business in Germany, with a focus on Ultra-High-Net-Worth (UHNW) and entrepreneurial clients as well as sophisticated family offices. Sven Stephan has been appointed to lead and build the new onsite dedicated Wealth Management team of Credit Suisse (Deutschland) AG.
Credit Suisse wealth management clients in Germany will now have on-the-ground advisors, based in Frankfurt, experienced in serving clients with institutional-like needs, while also still having access to the bank’s extensive booking and solution capabilities in Switzerland. The dedicated team will also collaborate closely with the local investment banking and asset management teams.
Robert Cielen, Head of Wealth Management for Europe at Credit Suisse, commented: “This expansion is proof of our strong commitment to Germany as one of Credit Suisse Wealth Management’s priority markets and is in line with our strategy to grow our business with UHNW and entrepreneurial clients. We are excited to see Sven lead our wealth management efforts on the ground and we look forward to offering our clients in Germany greater connectivity and expertise.”
Dr. Frank Heitmann, CEO Credit Suisse (Deutschland) AG, added: “This on-the-ground integrated approach reflects the increased demand of German UHNW and entrepreneurial clients for a strategic dialogue spanning wealth management, investment banking and asset management capabilities. Our strengthened one-bank team will mean that we will be able to offer even more tailored solutions and greater proximity to our clients in this growing market.”
Prior to joining Credit Suisse (Deutschland) AG in 2021 as Managing Director, Sven Stephan led HSBC Deutschland’s Private Banking team. He has 23 years of experience in banking, 17 of which are in wealth management, is based in Frankfurt and reports to Dr. Frank Heitmann and functionally to Mischa Tschopp, Market Area Head of Germany.