Credit Suisse has opened a private banking office in Northbrook, Illinois, headed by Chris Williams, to serve the wealth management needs of the growing number of high and ultra high net worth individuals in the area.

The opening is part of Credit Suisse's strategy of expansion in the US: Private Banking USA now has 16 offices across the country, having added locations in Connecticut and Philadelphia in 2007.

Mr Williams said: "The client experience is critical to our business and key to Private Banking USA's growth strategy. Our intent with this office is to deliver a premium, unforgettable experience not only to our clients, but also to our relationship managers and branch staff."