Swiss private bank BSI SA is considering tripling its assets under management for high net worth individuals in Asia as part of its expansion strategy.

In an interview with Business Week, Hanspeter Brunner, the bank's chief executive officer for Asia, said that BSI is looking to boost its AuM in the region from $3 billion to $10 billion by the end of 2015. The company has increased its staff numbers in Singapore sixfold from 30 in 2009 to 180, over 50 per cent of whom came from RBS Coutts.

Mr Brunner also dismissed criticism that BSI's bankers would have a tough time marketing the brand in the region because of its relatively unknown status.

"Clients are smart," Mr Brunner was quoted as having said. "They go to where they think they get what they want and need. If we want to go from $3 billion to $10 billion, we cannot just steal or convince clients to come over. Clients will not come and work with BSI unless we have something very exciting to offer."

The CEO added that BSI's Asian growth plans will not be anchored on merger and acquisition activity and will, instead, focus on organic growth.

"I'm a big believer in solid, organic growth, and then when an opportunity pops up, it's exciting," he reportedly said.

Assets of Asia Pacific HNW individuals are expected to reach $13.5 trillion by 2013, according to the latest report by Capgemini and Merrill Lynch.