Credit Suisse Private Banking USA is a division of Credit Suisse (USA) Inc. whose ultimate parent is Swiss banking giant Credit Suisse Group. The company provides asset-management and financial-advisory services to high-net-worth individuals and families. Investment products include equities, fixed income, structured products, alternative investments, managed accounts and lending. Wealth management includes tax, estate and philanthropic services. The average account size is more than $5 million.
The private bank has about 400 relationship managers in 16 offices in states including Connecticut, Florida, Illinois, Massachusetts, New York and Texas. While it is a division of a multinational bank, it maintains it is boutique-like in both culture and size.
While parent Credit Suisse is in the midst of cutting 11% of its work force worldwide, the bank has said it plans to "judiciously invest in the growth of private banking globally." Over the next three to five years, Credit Suisse Private Banking USA plans to double the number of relationship managers it employs.
Credit Suisse’s careers portal has a section dedicated to campus recruiting for private-banking jobs in the U.S. The private bank has associate training programs. Its full-time program is a four-week global program followed by a four-week regional training program open to candidates with an M.B.A. or other postgraduate degree such as M.F.E. or Ph.D. or equivalent, and ideally work experience. Its summer internships are for 10 weeks and serve as a pipeline into its full-time programs.