BANGKOK, May 18 (Reuters) - Credit Suisse said on Wednesday it set up a wealth management team in Thailand to tap rising demand from high-net-worth individuals, as part of its expansion in Asia. Credit Suisse, which has operated full-service securities brokerage in Thailand for 16 years, said in a statement Thailand has a sizeable high net worth wealth pool compared to other major regional economies such as South Korea or Singapore. The bank is targeting two key client segments: high-net-worth individuals with assets of more than $2 million, and ultra-high-net-worth individuals with asset of $50 million, or $250 million in net wealth, it said. Most of them are first- or second-generation entrepreneurs with family-owned businesses, who are increasingly keen to diversify their wealth through global investments, the statement said. According to a 2015 Asia Pacific wealth report, there are around 91,000 high-net-worth individuals in Thailand with more than $1 million in investable assets, owning total $456 billion of investable wealth, it said. There are also an estimated 340 ultra-high-net-worth individuals with more than $50 million in net wealth, according another Credit Suisse global wealth report. (Reporting by Khettiya Jittapong; Editing by Kim Coghill)
credit bank has set up a wealth management team in Thailand so as to tap into the increased demand from wealthy individuals and as part of its expansion plan into Asia . The bank said in a statement that Thailand has a sizeable high bet worth wealth index compared to other regional economies , such as South Korea . Indeed , according to a 2015 Asia Pacific financial report , there are about 91,000 high - net - worth individuals in Thailand with over $ 500 billion in investable assets .