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City giant targets pink pound
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Credit Suisse has become the first major bank to specifically target the gay market.
"The three-million-strong gay and lesbian community in the UK earned ã81 billion last year"
The Swiss banking giant, which also sponsors Stonewall’s annual lesbian and gay recruitment guide, intends to provide a bespoke financial service for their gay clients, covering not just traditional banking services, but also offering advice on issues such as civil partnerships and adoption.
Stephen Connolly, Credit Suisse’s gay advisor, says that Credit Suisse’s new initiative will mean that clients will have no need to explain their lifestyle to the bank, or justify how they choose to live their lives.
Credit Suisse will be initially targeting high net worth individuals in their thirties and forties. With the average gay man earning on average £31,099, well above the national average of £25,895, and few having school fees to pay out, the gay market is seen as a highly lucrative market for investment.
The three-million-strong gay and lesbian community in the UK earned £81 billion last year.
