April 9, 2009 / 12:49 AM / 11 years ago

UPDATE 1-C.Suisse to begin Japan wealth business in May

*Targeting “high net worth” clients in Japan

*May consider tie-up with other institutions (Adds details)

TOKYO, April 9 (Reuters) - Credit Suisse CSGN.VX said it plans to launch private banking operations targeting wealthy retail clients in Japan from May.

In an interview with the Nikkei business daily, Credit Suisse CEO Brady Dougan said current market turbulence is providing the bank a good opportunity to tap demand for asset management in Japan.

The bank is targeting “high net worth” clients - those with assets of 1 billion yen ($10 million) or more, said Isamu Kajino, Credit Suisse spokesman in Tokyo.

He added the bank is also planning to boost its investment banking operations in Japan.

CEO Dougan was quoted by the Nikkei as saying there are various possibilities for expanding its business in Japan, including alliances with other financial institutions. ($1=99.72 Yen) (Reporting by Taiga Uranaka; Editing by Kim Coghill)

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