Credit Suisse has announced its expansion into Qatar in partnership with Qatar Investment Promotion Agency and will launch a tech hub.
As per the announcement, the expansion will create 100 jobs over the next five years in wealth management, investment banking and asset management.
IPA Qatar and Credit Suisse said in a joint statement, stated, “This expansion will further strengthen the bank’s leading wealth management business, deepen the bank’s local footprint and contribute to accelerating Credit Suisse’s development and digitisation in Qatar and the wider region,”
Credit Suisse is present in more than 50 countries and has been operating in Qatar since 2006 via the Qatar Financial Centre platform and while it is cutting 5,000 jobs it has chosen to expand in Qatar.
Qatar Holding is one of its top shareholders in the bank with a stake of just over 5%, according to the bank’s website.
The expansion is in line with Qatar’s aim to grow its financial sector which now ranks second after hydrocarbon industry.
