Credit Suisse
Credit Suisse’s commitment to southeast Asia’s second-largest economy is undoubted. The Swiss firm’s plans to focus on the ultra- and super-high net-worth sectors and to mesh its private banking operations with its broader business are bearing fruit.
It went live with its private banking operations in Thailand in May 2016, offering state-of-the-art wealth management services out of Bangkok, with an experienced, 30-strong team of mostly local relationship managers. By any conceivable metric, the decision has paid off. Business is booming, and the bank’s overall operations have benefited accordingly.
But Credit Suisse also has one of the best corporate and investment banking outfits in Thailand, as well as one of its largest and strongest rosters. As one of the few bulge-bracket investment banks with a fully licensed local broking operation, it boasts more than 40 staff, spanning equity sales, research, wealth management, and investment banking, overseen by country director Chris Prasertsintanah.
A quick look at its recent deal list underlines its strength in depth. Take Banpu Power’s $384 million initial public offering, completed in October 2016. This marked the largest domestic equity sale of the year, a deal that priced at the top of the range despite market volatility, and which thanks to strong international demand was fully subscribed on day two of the book-build.
In another stand-out deal last year, Credit Suisse advised France’s Groupe Casino on its strategic sale of a 58.6% stake in supermarket chain Big C Supercenter to tycoon Charoen Sirivadhanabhakdi for $3.46 billion. It was the largest local M&A deal of 2016 and the second-largest cross-border Thai M&A deal ever completed.
Last but not least, it is the runaway leader in block trades, equity and equity-linked transactions, and has been the dominant house for equity offerings for each of the last four years.