Credit Suisse eyeing major Japanese expansion: report

(Reuters) - Credit Suisse (CSGN.VX) is planning to significantly expand its Japanese operations by quintupling of wealth management personnel, the Nikkei business daily reported.

The Swiss bank will strengthen investment bank, asset management and other services it provides in Japan, the paper quoted Credit Suisse Chief Executive Brady Dougan as saying.

While Credit Suisse aims for a 6 percent annual rise in assets under management worldwide, it anticipates double-digit growth in Japan, the paper said.

"Dougan sounded upbeat on the Japanese market, which often gets written off by foreign firms," the paper said.

With the Tokyo Stock Exchange's launch of a new, faster order-processing system in January, the groundwork has been laid for a full-fledged expansion of Credit Suisse's high-speed algorithmic trading in Japan, Dougan said.

(Reporting by Jennifer Robin Raj in Bangalore; Editing by Gopakumar Warrier)