Cash seen losing allure among wealthy-C.Suisse

* Wealthy clients still hold 29% cash, 32 pct equities-study

* Clients expected to move into structured products

* Trend may develop within six months if markets stay same

ZURICH, Sept 2 (Reuters) - Wealthy clients sitting on large piles of cash and liquid assets are likely to turn to structured products in the next six months if current market conditions persist, says Credit Suisse's (CSGN.VX) top private banker in Switzerland.

According to the 2010 LGT Private Banking Report, clients with at least 500,000 euros ($640,000) are keeping on average 29 percent of their savings in cash and 32 percent in ready-to-sell equities, mostly because of concerns about how the market will turn.

But if the market continues to move sideways they may be tempted to invest in high-yielding financial structures to avoid an erosion of real value in their wealth while interest rates remain low.

"We see the current desire to hold cash and the little interest in holding complex structures as a short-term situation. We expect to see a trend reversal on that side," said Rolf Boegli, who has been Head of Private Banking Switzerland at Switzerland's second biggest bank since April 2009.

Boegli, who worked at UBS (UBSN.VX) (UBS.N) for 30 years before joining Credit Suisse (CS.N) last year, told a private banking conference on Thursday that he already saw an uptick in structured products since the market started to stabilise a couple of months ago.

"If the market proves to continue to be as it is I would expect that within six months clients would move out of liquidity and cash into more sophisticated products," he said.

Boegli said clients had become more risk aware following the credit crisis and in view of the billions of dollars of banking writedowns that the sector is still predicted to have to face.

But the higher end of the wealth mangement sector, the so-called ultra-high net worth individuals with 50 million Swiss francs ($49 million) or more to spare and the 'family offices' catering for the super rich, will soon enough be looking for more complex financial solutions that fit their needs.

"The trends for tailor-made solutions for ultra-high net worth clients and family offices will stay," Boegli added. ($1=.7814 euros) ($1=1.013 Swiss francs) (Reporting by Lisa Jucca; Editing by Greg Mahlich)