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Global markets were pummeled last week and on Monday on
deepening concerns about a China-led global economic slowdown.
Francesco de Ferrari said the state of Asia's economies was
better than the market was suggesting and clients were looking
for underpriced bargains.
"If I look at how clients reacted, at least last week when I was
in Asia, a lot of clients are really waiting for the opportunity
to jump into the markets ... A lot of clients would view this as
a buying opportunity," de Ferrari told a conference in Zurich.
He said the impact on Credit Suisse's own business would be
limited as long as there is not a prolonged downturn.
"A market correction per se is not significantly negative for
our business as long as this doesn't continue," he said. "If it
continues then it starts to impact the real economy and that
will have definitely repercussions, not just in our business, on
our clients' businesses as well."
(Reporting by Joshua Franklin, editing by David Evans)
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