Digitization Leads Wealth Managers' Eastward Shift, Says Credit Suisse COO

"Digital is not a nice to have; it is now a necessity. You have to decide if you want to be disruptive or to be disrupted," said Monnet during his keynote address at the BST Asian Summit 2015.

The rise of digital capabilities in wealth management represented a "massive opportunity rather than a threat" for wealth management firms, explained Monnet, and that the speed of developments "imposed the necessity not to stand still, although standing still doesn't necessarily mean just doing nothing."

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