Credit Suisse rejigs top brass in private banking business in India


New Delhi: Credit Suisse on Friday announced senior level changes in India, appointing Inigo Mendoza as head of private banking and Balakrishnan Kunnambath to oversee the business in addition to his existing portfolio.

Kunnambath, private banking market group head for Non-Resident Indian (NRI) Asia Pacific and Indian sub-continent based in Singapore will oversee the private banking India business in addition to his existing portfolio, Credit Suisse said in a media release.

Kunnambath would report to Alex Wade, head of developed and emerging Asia for private banking Asia Pacific.

“I am confident that under Balan and Inigo’s leadership, we will continue to broaden our client base and deepen client penetration, drive collaboration opportunities with both our global NRI teams and our business in India, and to grow our Indian Private Banking franchise sustainably for the longer term,” Alex Wade said.

Mendoza has been appointed head of private banking India. He would be based in Mumbai and report to Kunnambath and locally to Mickey Doshi, CEO India.

“Credit Suisse is strongly committed to India and continues to position itself as the Trusted Entrepreneurs’ Bank for our clients. Private Banking is an important part of our global integrated platform of services and solutions catering to the needs of high and ultra-high-net-worth individuals, entrepreneurs and family-owned businesses in India,” Mickey Doshi said.

Credit Suisse first started its wealth management operations in India in 2008, allowing it to deliver integrated financial services to clients locally.

Furthermore, Credit Suisse has dedicated teams across major financial centres in Singapore, Hong Kong, Dubai, London, Zurich and Geneva, catering to the needs of global NRI clients.