Credit Suisse said on Wednesday that it had launched its pan-European online investment service targeting the mass affluent. Unveiled in September, the new service is available in the UK, Belgium, Denmark, Finland, Germany, Ireland, Italy, Luxembourg, Netherlands, Spain and Portugal. Other European Union countries will be added later.
Ivo Furrer, head of credit-suisse.net, said 1,000 people had already pre-registered for the service, which offers online share dealing in 15 stock markets and a supermarket of 175 investment funds, plus virtual portfolios and CSFB research. Credit Suisse, which has already made a significant investment in the project, aims to attract up to 100,000 customers by the end of 2001.
Customers wishing to use the new service will need at least £30,000 of assets under management and at least £600 to open an account. They will be able to buy shares in stock markets including the US, UK and German markets from an account allowing them to switch between four currencies - dollars, sterling, Swiss francs and Euros. There are plans to add additional stock exchanges in the future, including Hong Kong and Tokyo. Credit Suisse is considering launching other financial products such as credit cards, life insurance products and using the platform to offer shares in IPOs.
Mr Furrer said that his company had the edge over its rivals in the wealth management business: 'I think we have first mover advantage because of the comprehensiveness of our offering. The investors we are aiming at are more inclined to think globally, know a certain amount about stock markets and investment funds,' he said.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment