UHNW Top Recommended
Rusty Elvidge is without doubt one of the leading figures at Credit Suisse, having been in its London UHNW private banking arm since it was formed in 2010. This followed a 15-year stint on the bank’s investment banking side, where he was co-head of global foreign exchange. His largely Europe-based clients are usually entrepreneurs worth £250 million to £5 billion.
Elvidge describes his client base to Spear’s: ‘They are very interesting people. For someone to have been that successful they need to have taken a lot of risk. They’re very different from old money: most of them are happy with a large amount of risk.’
He is succinct about his approach to open architecture: ‘Whatever’s best in the marketplace.’ He is more expansive on market trends: ‘Yields have dropped and people are willing to take more risk. A lot of the clients set themselves rates of return of 8-10 per cent, and to get those returns you have to be smart.’
He is also bullish about Brexit: ‘My clients are global citizens – European entrepreneurs with a global outlook. Brexit might affect their businesses if they run a domestic UK business, but for exports they’ve benefited from lower sterling.’