Word: daeniken
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...hire 100 more this year. Bank Julius Baer, the venerable Swiss private bank, has similarly high expectations. "We're trying to position Singapore as a second leg [after Zurich] to our operation," says Thomas Meier, head of the company's private-banking arm in Asia. Says Didier von Daeniken, head of private banking for Credit Suisse in Southeast Asia: "The [Singapore] government is the smartest on earth in terms of promoting the place as a center for private banking...
...banks tussle with one another for talent. Industry consolidation may be the inevitable endgame. Only the biggest banks will be able to satisfy the growing salary demands of private bankers, so middle-tier players may gradually be squeezed out. "The big will only get bigger," says Didier von Daeniken, head of private banking for Credit Suisse in Southeast Asia. "As a middle player, it's not easy to make money because [staffing] costs have risen...
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