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Credit Suisse Group AG is planning to hire more relationship managers in Saudi Arabia, joining rivals including Deutsche Bank AG in designating the country as a priority for their wealth management business. The recruitment drive comes after the Zurich-based bank established a platform allowing it to offer private banking services and products in the country, according to an emailed statement from the company.Credit Suisse continues to seek a banking license for Saudi Arabia that would allow it to open branches in the kingdom. JPMorgan Chase & Co., Deutsche Bank AG and BNP Paribas SA already have such licenses, while HSBC Holdings PLC, Royal Bank of Scotland Group PLC and Credit Agricole SA operate in the country through minority stakes in local lenders.
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